To start with I just want to state that this article does include affiliate links!
Recently, I was reading some of the posts on Marc Cubans blog BlogMaverick
, when I stumbled upon a decades old post that he had posted about a book written by Alex Berenson, called The Number: How the Drive for Quarterly Earnings Corrupted Wall Street and Corporate America
. The book seemed very skeptical of corporate america but very interesting all at the same time. So I quickly made my way to Amazon and ordered me a copy of the book. Within days I found the book in my mailbox and was very excited to get started reading it.
I have included a review of the book below and look forward to any comments on the book. If your interested in obtaining the book yourself then I have included a link to the book on Amazon down below.
In my opinion, the book is a very good read for the likes of a beginner or professional investor. I found the book to be very informative on the evolution of Wall Street. The book goes all the way back to events surrounding the Great Depression and how the market worked back then. With the collapse of the stock market, America saw the birth of the U.S. Securities and Exchange Commission.
The book goes on to cover the ways in which Wall Street has changed over time, how analysts are in constant contact with the companies in which they are supposed to be analyzing. Often times it is the corporations that give the analysts the information that they report as their own analysis. To make sure they meet their quarterly earnings, corporations have been known to use all kinds of accounting gimmickry to accomplish this, which leads to accounting fraud.
This book does a great job of putting all this in perspective and explaining it in detail. I would recommend this book to anyone who is interested in or who is currently investing in the stock market.