With compelling clarity, Henwood dissects the world’s greatest financial center, laying open the Intricacies of how, and for whom, the market works. The Wall. In , though, such arguments were pretty close to unheard of. Which is what makes Doug Henwood’s book Wall Street, published that year. PUBLISHERS WEEKLY. ADVERTISEMENT. Wall Street: How It Works and for Whom. Doug Henwood, Author Verso $25 (p) ISBN

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This is an interesting book to read over a decade later because I can only say: Inafter Liscio’s death, Henwood and Phillipa Dunne, a business partner, inherited The Liscio Report and continue to publish the newsletter using the research techniques pioneered by their mentor.

He then worked for two years as a copywriter and assistant to stgeet medical publisher in New York.

How can something so socially useless dominate American politics to such an extent that the only serious policy for solving the greatest economic crisis since is pumping money into socially useless Wall Street?

This is a very good book in macro and microeconomics.

Make no mistake, “Wall Street” is a hard-left leaning book. What is undeniably true is that when my mortgage note was sold, changed hands at least twice in the s it had absolutely no effect whatsoever on my financial situation. Henwood took questions from the audience. You can download it for free here.

Wall Street: How It Works and for Whom

Following his prepared remarks, Mr. The great distinction of the late s market was to provide finance for the likes of Pets.

Also, in a world with Shleifer-Vishny limits to arbitrage, we may only be able to hold the weak efficient markets hypothesis or what Rajiv Sethi prefers to call the Invincible Markets Hypothesiswhich says that it’s impossible to beat the market, but not that the market correctly values real-world assets–meaning that it may not be an efficient allocator of capital even when used as such.

It also discusses features of these markets, namely efficiency, disinformation, noise, fads, and bubbles. Public Affairs Event Format: There is also a fairly long Freudian digression which I found completely bizarre and off-putting. Henwood has written four books.


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Jun 19, Claudia rated it really liked it. They are absolutely terrified of workers joining together and fighting for unions. Sarah rated it it was amazing Jan 05, Oct 11, Amanda J marked it as to-read Shelves: This would probably decrease volatility and may be liquidity too… Laurent. streef

Internet blag of the year – “Wall Street”

Wall Street is an ace book; in my professional opinion as a business henwold graduate it contains the clearest explanation you will find of how financial markets work, much better than the one in Principles of Corporate Finance, Modern Investment Theory or any similar MBA textbooks.

I read Wall Street and wondered at the time hemwood Henwood was ddoug about the stock walo not being a serious source of funds for business. Detailed, objective, straightforward, this book is the best book about Wall Street, in its entirety, that someone who is just looking into what the world of high finance is about should just go out and read. Although DH is making his argument in a journalistic style and not a rigorous academic form, this view is certainly supported by the recent IPO plans of Groupon, LinkedIn, and Facebook, which all have publicly stated that they do not need the cash but would like to give their existing equity holders a liquid market that they can use to mark the wzll of their holdings or to exit.

Jason Schulman rated it really liked it Jul 30, The Wall Street which emerges is not a pretty sight. The last chapter makes the book, as the author tears down the awful idea of social security privatization currently replaced by privatization of government health plans by the supply-side maniacs and neo-liberal “third way” plots like micro-loaning.

The Big Backdoor Bailout of Wall Street and Doug Henwood – Slog – The Stranger

Very little can be said to have changes since its publication and it is by far one if the best straight forward analyses of the machinations of our economic system. Good undergraduate-level overview of the academic literature on Wall Street and the financial services industry.

This chapter presents the numerous financial models that have been devised to simulate the market. Oct 26, AC rated it it was amazing Shelves: But is it really meaningful to net things like buybacks do dividends also count as negative equity issuance? And though, as Henwood reveals, their activity contributes al With compelling clarity, Henwood dissects the world’s greatest financial center, laying open the Intricacies of how, and for whom, the market works.


Unfortunately his own ideas are difficult to implement as any real solution will be because they count on a massive cultural change from bottom-up institutions. This last chapter includes the author’s thoughts on a number of economic issues such as social security, the Fed, investing socially, taxation, corporate transformation. In an equally extraordinary act of generosity, Doug has decided to release it to the internet, gratis, under a Creative Commons Licence.

To see what your friends thought of this book, please sign up. They live in Brooklyn with their son, Ivan, born 1 January High industry valuations in the market are associated with flows of private and some public equity into the same sector and hence capital allocation — see biotech and IT over the last 15 years or so.

I understand it would have been a nightmare to manage before electronic booking and trading systems but now it should be possible.

But as Doug Henwood pointed out back in his masterpiece Wall Streetwhich you can download for free hereonly a small amount of the money flowing through the financial markets ends doing anything like this pretty picture of social usefulness.

Wall Street: How It Works and for Whom by Doug Henwood

Retrieved from ” https: Douug it quick before he gets his marbles back is my advice. Quotes from Wall Street: Jul 05, 2: Jul 16, Gerald Weaver rated it it was amazing. But on a net basis, in a normal year, equity issuance is negative. Yale University University of Virginia. Sep 11, Robb Bridson rated it it was amazing.