Take on the Street

What Wall Street and Corporate America Don't Want You To Know and How You Can Fight Back

By: Arthur Levitt, Paula Dwyer

Narrated by: Scott Brick

Length: 13 hrs and 7 mins

Publisher's summary

Investors today are being fed lies and distortions, are being exploited and neglected. In the wake of the last decade’s rush to invest by millions of households and Wall Street’s obsession with short-term performance, a culture of gamesmanship has grown among corporate management, financial analysts, brokers, and fund managers, making it hard to tell financial fantasy from reality, salesmanship from honest advice.

In Take on the Street, Arthur Levitt - former chairman of the Securities and Exchange Commission - shows how you can take matters into your own hands. At once anecdotal (names are named), informative, and prescriptive, Take on the Street expounds on, among other subjects:

• The relationship between broker compensation and your trading account; the conflicts of interest inherent in buy-hold-or-sell recommendations of analysts
• What exactly happens - and who gets a piece of the action - when you place an order
• The “seven deadly sins” of mutual funds
• The vagaries and vicissitudes of 401(k) investments
• How accountants engage in sleight of hand to fake impressive company performance
• How to find the truth in a company’s financial statements
• The real reason for the Street’s hostility to full disclosure
• The crisis in corporate governance, and, given these shenanigans and double-dealings, what specific steps you can take to safeguard your financial future

With integrity and authority, Levitt gives us a bracing primer on the collapse of the system for overseeing our capital markets, and sage, essential advice on a discipline we often ignore to our peril - how not to lose money.

©2002 Arthur Levitt (P)2002 Books on Tape, Inc.

Critic reviews

"The small investor has never had a better friend than former SEC chairman Arthur Levitt. His goal was unwavering: To have markets that served the interests of investors, both large and small." (Warren Buffett)

"Lively and illuminating....Blends backroom revelations of a first-rate political memoir with the no-nonsense advice of a basic investment primer." (The New York Times)

"Arthur Levitt may never eat lunch on Wall Street again. Or on Capitol Hill, either. But he should be able to enjoy at least a cup of coffee on any Main Street in America if enough investors read his lively and illuminating new book....The only investment guide the average American will ever need. " (The New York Times)

Excellent eye opener

This book is a must hear/read for business leaders, investors, accountants, business students and particularly board directors of any company. The author has carefully written this book to target the widest audience possible...it can be boring for finance professionals in some parts, but the value in most of it is intellectually stimulating even for the pros.

Someone Looking out for the Individual Investor

Mr. Levitt presents a compelling behind-the-scenes account of his efforts to advocate for the Individual Investor. The fact that he was often forced to compromise this goal, due to politcial pressure, is shocking.

Good info but narration is distracting

The content is very good, when I can get past the narration. I'm sure the narrator had the best intentions but, to me, it was non-fiction with "an attitude."

Excellent information. Must read for investors.

Excellent information. Must read for investors. Get informed about the multitude of ways you are getting burned by the financial industry. Don't get burned again.

Thanks, Arthur.

Really Deep look into Wall Street

While the information within this book and the actual reader himself were quite good, towards the last 3 hours I started to zone off even though I was trying quite hard not to, personally I wouldn't touch mutual funds, 401k, or bonds to save my life, it does give you a pretty good idea about these "investments" if your an average person who just wants a high paying job and everything that comes with it, read this then read Tony Robbins book "Unbreakable" that will give you a better idea of you are interested in investing into the the 401k & mutual fund. But if you're a business owner & intend to become rich Robert Kiyosaki's "Rich Dad's Guide to Investing" is too insightful

Arthur, You should do more golfing

What would have made Take on the Street better?

If Arthur Levitt had different attitude.

Any additional comments?

As a very small individual investor, immigrant from communist country, I do not want Arthur to hold my hand. I educate myself, I take risk myself, I take losses, I take gains. Please get out of the way of business, or go live in Russia.

The title is completely wrong

What disappointed you about Take on the Street?

Got the book reading the title. But the front cover has a totally different book.

Not for me

I found the content of the book opinion based with very little facts. Didn't learn anything new.

Expected more...

I expected more from this book. It tell you about all those things you hear in the media all the time and you can do nothing about anyway (with very few exceptions).

Interesting Info but very slow and dry

I can't recommend this book although the information is interesting if your interested in investing and financial markets but the tone and pace make it hard to listen to.