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The Book Wall Street Doesn't Want You to Read
AuthorExposes Flaws in Wall Street Business Model, ProvidesInsight to Avoid Being Scammed
FRISCO, Colo., Dec. 13, 2007 -- As a top-producing WallStreet stockbroker for 20 years at some of its largestfirms, Bruce Fleet has had the opportunity to see everything- the junkets, the incentives, the sales strategies, theproduct preferences and most of all how customers aretreated. Part memoir, part financial education, his newbook, "Demystifying Wall Street: Shedding a Little Light onthe BULL!" (published by AuthorHouse -http://www.authorhouse.com) will empower and entertainreaders with an inside look at how Wall Street operates.
Past experience as a car salesman allowed Fleet to uncovermany similarities between selling cars and selling stocks,mainly the role of incentives. The book reveals aperspective that is often lost on consumers: Salesmen,whether of stocks or cars, are paid to sell products. At theend of the day, they work for the manufacturers of thoseproducts; therefore their interests are never aligned withthe buyers.
A whistle-blower's story, the book will show readers howWall Street's business model is designed to exploit ratherthan enhance buyers' finances:
Despite the bull, the advertisements and all of the lip service, stockbrokers can never be the trusted advisers they pretend to be. If they were, and put clients' interests ahead of their own, they'd be broke. Yet, the average income of stockbrokers is several hundred thousand dollars and can stretch into the millions.
I explain how this then translates into a lifestyle trap for Wall Street stockbrokers, how they have to produce, produce, produce to maintain their lifestyles ... Managers want brokers to get nicer cars, buy bigger houses. They hold out carrots at the office too - corner offices, secretaries, trips- all in a design to keep brokers in the firm's nest, doing their bidding.
Rife with information, including charts, tables and graphs,"Demystifying Wall Street" is meant to be used as a resourceguide - a resource guide that tells a story. From financialplanning to product choices to risk management, the bookserves as a survival guide to provide investors with theknowledge necessary to fend for themselves in the investmentjungle.
Bruce Fleet is a veteran of Wall Street firms, having workedin the investment industry for over two decades, traininghundreds of financial advisors and lecturing to thousands ofinvestors. He earned his Certified Investment ManagementAnalyst designation and Investment Strategist Certificate atthe University of Pennsylvania, via the InvestmentManagement Consultants Association. "Demystifying WallStreet" is his first book. For more information, pleasevisit http://www.brucefleetbooks.com.
AuthorHouse is the premier book publisher(http://www.authorhouse.com) for emerging, self-published(http://www.authorhouse.com/GetPublished/FAQ.aspx) authors.For more information, please visithttp://www.authorhouse.com.