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If you're looking for a summertime page turner, Confessions of a Wall Street Analyst is it. In this tell-all, retired telecom analyst Dan Reingold chronicles the Street's abuse of inside information and conflicts of interest during the 1990s. With humor, drama and some swagger, Reingold captures this era of collusion, defined by the meteoric rise and fall of firms like WorldCom.
To be sure, Reingold laments that analysts became compromised rainmakers who brokered deals and helped inflate stock prices. But he casts himself as relatively powerless to change the system, resigned to collect a multimillion-dollar salary and sit back and watch. Had Reingold spoken up then, his inside track, and regulatory recommendations, might be more meaningful. Now this insider's tale reads like a grandstanding -- albeit wholly entertaining -- retrospective on a high-stakes game, delivered from the safe haven of early retirement. ($25.95, 368 pages)
Lauren Horwitz, former managing editor, production, for CIO Decisions, is now managing editor for TechTarget's Data Center Media Group. Write to her at lhorwitz@techtarget.com.
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