The London Stock Exchange Trade in stock markets means the transfer in exchange for money of a stock or security from a seller to a buyer. This requires these two parties to agree on a price. Equities stocks or shares confer an ownership interest in a particular company.
That said, it did not impact my review. One of the interesting things about this book, is that the author is a decided capitalist.
It would be one thing to read a criticism of capitalism written by a Marxist. But in this case, the author has been a successful investment advisor featured prominently in the media over the last couple of decades.
The book is written by a dedicated capitalist, who seems to be legitimately disenfranchised with what our economic system has become.
And there are many of them. Some of the topics covered include: Why Wall Street has largely become a short-term focused casino.
The various conflicts of interest that exist in the financial services industry. The high-fees brokers and bankers often push on their clients. And much, much more… The book accurately critiques a variety of things that have gone wrong with our modern form of capitalism. It really is a lament.
To some degree, I think this latter piece indicates the problems on Wall Street are relatively persistent, and not necessarily something new.
So there are lots of contemporary examples that make the book interesting and relevant. For his role actively managing money, Faust also has numerous awards and accolades.
So why does all this matter? To be honest, given the credentials of the author, I take the criticisms of the book much more seriously. It would be easy for someone outside the system to throw stones.
But for someone to have been so successful in an environment, only to turn around and objectively criticize it is very interesting.
The book rightly shines a light on the fact hat most individual investors are getting fleeced. And I also realize that the book is titled a lament. So in some regards, this slight criticism might not even be warranted. But as a reader, I would have appreciated a little more focus on potential solutions.
To that end, the book does have some recommendations on next steps and questions to ask of your investment advisors and product dealers.
I think this kind of information is very helpful, and I would have appreciated it if some of these ideas were sprinkled throughout the book a little more.
Overall though, I really did enjoy the approach in this book. The book does a good job accurately summarizing the problems facing Wall Street, and the general investing public. For this reason, it may be of interest and I recommend taking a closer look at the book on Amazon.
I also encourage you to check out the short video book review.Apr 28, · What is a Stock Market? The stock market is a complex system where shares of publicly-traded companies are issued, bought and sold.
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