Does Your Broker Owe You Money? (Paperback)

~ (Author) "My phone rings off the hook..." (more)
Key Phrases: initial prehearing conference, introducing brokerage firm, brokerage firm executives, Merrill Lynch, Modern Portfolio Theory, Wall Street (more...)

Product Details

• Paperback: 1 pages
• Publisher: Alpha; 1st edition (January 1, 2002)
• Language: English
• ISBN-10: 0028643909
• ISBN-13: 978-0028643908
• Product Dimensions: 8.7 x 5.9 x 0.7 inches
• Shipping Weight: 13.6 ounces
• Average Customer Review: 3.9 out of 5 stars  See all reviews (15 customer reviews)
• Amazon.com Sales Rank: #1,588,268 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful:

5.0 out of 5 stars A must read for all investors, September 16, 2002

By	Jeffrey S. Feinberg, Esq. (New York, N.Y.) - See all my reviews

Mr. Solin's book is an indispensable guide to anyone with a brokerage account. For those who suspect wrongdoing on the part of their broker, this book is a roadmap to getting their money back. For investors looking to become better informed, Mr. Solin draws back the curtain on how Wall Street works revealing hidden costs and conflicts of interest that are rarely, if ever, disclosed by brokers.

As a twenty year veteran of Wall Street and as a secutities arbitration attorney, I can say without reservation that Mr.Solin's in depth analysis of broker behavior is right on target. This book is a must read for anyone with a brokerage account as well as any attorney who is new to the complex field of securities litigation/arbitration.

Congratulations to Mr. Solin for providing a much needed guide to uncovering and preventing broker fraud.

7 of 7 people found the following review helpful:

5.0 out of 5 stars An excellent primer for individual investors, September 13, 2002

By	"rwdurden" (Chicago, IL USA) - See all my reviews

Several years ago, as a summer intern in a large financial services company, I was given the opportunity to attend an Investment Advisor (Broker) training seminar. The experience was an eye-opener. The entire class was devoted to lead generation, not sound investing techniques. Those with some prior sales experience shared with others their methods of obtaining the names of wealthy (potential) clients. Among the methods included was slipping the receptionist at the local country club a twenty dollar bill for the club registry. On and on this went, with no discussion of investing fundamentals.

For many years in the 1990's, the knowledge that many brokers were, at best, modestly informed salesmen was confined to industry insiders and experienced investors. Dan Solin aims to bring this understanding to a wider audience, having worked with those who have either been swindled, misled, or simply given very poor investing advice. From reading this book, my impression of Mr. Solin is that he has simply had enough.

The book combines three main components - 1.) An overview into the conflicts inherent in the broker-client relationship and how these conflicts often hurt the retail investor 2.) A summary of Modern Portfolio Theory and its implications for the average investor and 3.) A discussion of avenues available to investors who believe they have a claim against their broker and/or brokerage firm. The writing is very accessible and conversational, and Mr. Solin writes as if he is very eager for the reader to grasp this information.

For many, parts of this book will be a review. However, this is the first book I have seen that provides an explanation of the theoretical underpinnings behind indexing (passive investing), uses this theoretical framework to question the value of many broker offered services, and then offers the investor options if his or her accounts have been abused or improperly handled. And writing the book off as the author's attempt to generate more business is too convenient, too pat an answer. I think that his preferred outcome is to educate, partly so that he won't have to hear about retirees having their money stolen by predatory brokers.

In short, an excellent primer for individual investors.

6 of 6 people found the following review helpful:

5.0 out of 5 stars Does Your Broker Owe You Money Hits Home, October 14, 2002

By	A. Daniel Woska "adw483" (Oklahoma City, OK United States) - See all my reviews

Dan Solin has provided a very nice primer with detail to the person who is wondering if they lost money due to the market or due to their broker.When the market meltdown began in March 2000, the bad habits and unrestrained greed of unprofessional brokers became as transparent as handi-wrap. The customers who were lured into unsuitable investments due to the way in which commissions were paid is exposed for what it is in this book.
Whether trying to recover losses for mutual funds or simple stock transactions, Dan Solin hits the mark and provides plenty of illumination on an otherwise private and hard to understand business. This is a must read for anyone who is beginning to invest or trying to determine how to recover monies lost in the meltdown.