[]
[]
While we are moving materials and services during the Central Library renovations, some materials with a status of "in" at the Central Library may not be immediately available.

How to Make A Million Dollars An Hour

Why Hedge Funds Get Away With Siphoning Off America's Wealth

Leopold, Les

(Book - 2013)
Average Rating: 4.5 stars out of 5.
How to Make A Million Dollars An Hour
 Add a Comment  Add Tags
Print
How hedge funds make money by taking it from the rest of us#151;and how you can join them! Top hedge fund managers make more than Oprah, Rupert Murdoch, and A-Rod combined#151;but they aren't running news and entertainment empires or playing baseball for the New York Yankees. Aren't you curious about how these hedge fund dudes make so much doing who knows what? You may even wonder if you can get there, too. After all, this is America! This book gives you the answers in a twelve-step guide to accumulating vast riches the way hedge fund managers do#151;by playing trillion-dollar poker with a marked deck. Through each easy step, you'll learn the sleight of hand and disregard for basic morality you'll need to move from making tens of dollars an hour to millions an hour! Along the way, you'll also question whether these hedge fund moguls make markets work better#151;as they and their apologists insist#151;or cause instability, siphon off capital, and destroy value without adding so much as a single widget to the economy. Takes a fascinating tour of the wild side of fantasy finance to explain just how hedge fund managers make so much money#151;and whether or not the million-an-hour crowd produces anything positive for society and the economy Teaches you hedge fund secrets that make it possible to pull down astounding sums in the space of minutes#151;from rigging your bets to milking millions in special tax breaks#151; if you're willing to bankrupt your morality for the cash Counters many of the most common arguments about why speculating in financial markets is somehow ""worth more"" than creating entertainment, electronics, or consumer goods that consumers want Written by Les Leopold, the popular AlterNet writer and author of The Looting of America
Publisher: Hoboken, New Jersey : Wiley, c2013
ISBN: 1118239245
9781118239247
Branch Call Number: HG4530 .L423 2013
Characteristics: vii, 260 p. : ill. ; 25 cm

Opinion

Community Activity

Comment

Add a Comment

Sep 07, 2013
  • StarGladiator rated this: 5 stars out of 5.

A great, great book, but given the opacity or opaqueness of hedge funds (as Les states, they are "unregulated investment pools"), I would add to several items he didn't know or mention: not only do the banks' proprietary trading desks act as hedge funds, but the largest banks routinely own the largest hedge funds. Also, Mr. Leopold evidently isn't aware of the "internalization business," although he does inform the reader that the HFT trading hedge funds have the lead over the retail investor; I would also question his conservative figure of $2.2 trillion (the investment of the super-rich in hedge funds, many estimates put it from $4 trillion to over $16 trillion). Mr. Leopold brilliantly destroys Sebastian Mallaby (CFR propagandist) and repeats Dean Baker's verbal destruction of Harvard's Rogoff (who can't do Excel). What many do not comprehend, unfortunately (and not mentioned in Mr. Leopold's superlative book), are the "unlimited numbers": an unlimited number of investors is allowed per hedge fund; and unlimited number of commodity futures can be purchased against a category; an unlimited number of credit default swaps can be purchased against specified debt; unlimited amount of naked shorting can be done on certain stocks, thanks to the DTCC's Stock Borrow Program; and HFT (high frequency trading) is not only done on stocks, but on commodity futures, on Treasuries, on credit derivatives, and by extension on anything which is traded! Taken together and add in the "internalization business" and the arithmetic permutations are endless for financial manipulation - - and together they result in perpetual leverage!

Age

Add Age Suitability

There are no ages for this title yet.

Summary

Add a Summary

There are no summaries for this title yet.

Notices

Add a Notice

There are no notices for this title yet.

Quotes

Add a Quote

There are no quotes for this title yet.

Videos

Add a Video

There are no videos for this title yet.

Find it at BPL

  Loading...

Explore Further


Browse the Shelf

Subject Headings


  Loading...

Powered by BiblioCommons.
app08 Version eventuell-fix Last updated 2014/11/25 13:07