Added to Your Shopping Cart. Description An industry insider reveals the inner workings of our financial system and the agencies who attempt to control it During his dozen years as an SEC attorney, author Richard Sauer opened and supervised some of its most notable financial cases-investigations that took him to a dozen countries and returned hundreds of millions of dollars to American investors. Sheds light on the inner workings of our financial system Takes you on a fascinating journey of a rogue's gallery of crooked executives, professional fraud enablers, and squirrelly technocrats Offers a firsthand account of the many ways contrarian views of public companies are suppressed and punished, depriving the market of critical information With the capital markets in turmoil, people are fascinated with what is happening on Wall Street.
Securities and Exchange Commission, a partner in an international law firm, and an analyst with a Northern California hedge fund. In his dozen years as an SEC attorney and administrator, he was responsible for some of the agency's most memorable financial fraud cases. Sauer's articles on legal and financial topics have appeared in numerous publications including the New York Times, the Wall Street Journal, and Barron's. Sauer lives in Berkeley, California, with his wife, Eileen Killory.
Permissions Request permission to reuse content from this site. Table of contents Reviews Prologue. Chapter 1 Rude Awakenings. Chapter 3 Short People. Chapter 4 Belgian Waffles. Chapter 5 AremisSoft and the Deemster from Hell. Chapter 6 Taking Out the Eurotrash. Chapter 7 In the Shadow of Enron. Chapter 8 The Easter Bunny Cometh. Chapter 9 Mired in Muck. Chapter 10 Our Tax Dollars at Work.
While a partner a An industry insider reveals the inner workings of our financial system and the agencies who attempt to control it During his dozen years as an SEC attorney, author Richard Sauer opened and supervised some of its most notable financial cases-investigations that took him to a dozen countries and returned hundreds of millions of dollars to American investors. While a partner at a major law firm and, later, a hedge fund manager, he saw firsthand the follies and failures of our system. Now, in Selling America Short, he shares his extraordinary experiences with you.
Selling America Short is a gripping chronicle of crooked companies, financial philanderers and hapless enforcers told through the eyes of personal experience. Page by page, it shows the damage wrought by the deep biases and lack of worldly experience common among those who hold the reins of our capital markets. Sheds light on the inner workings of our financial system Takes you on a fascinating journey of a rogue's gallery of crooked executives, professional fraud enablers, and squirrelly technocrats Offers a firsthand account of the many ways contrarian views of public companies are suppressed and punished, depriving the market of critical information With the capital markets in turmoil, people are fascinated with what is happening on Wall Street.
This book provides a unique look at the forces and events that led directly to financial tragedy and continue to wreak havoc. Hardcover , pages. To see what your friends thought of this book, please sign up. To ask other readers questions about Selling America Short , please sign up.
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This book is not yet featured on Listopia. Jan 19, Gil Bradshaw rated it it was amazing.
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This book was great if you are an investment banker or securities attorney. I guess if you are an investor in general it would also be of interest. Sauer gives a good explanation of short-selling hedge funds and gives the best defense of short sellers that I have ever heard: I was always curious about what exactly happened with Overstock. This book went into extraordinary detai This book was great if you are an investment banker or securities attorney. This book went into extraordinary detail on the whole affair.
Selling America Short: The SEC and Market Contrarians in the Age of Absurdity
It also gave me insight as to the realities of an investigation by the SEC. I thought this book was exciting and intellectually engaging. Nov 27, Hbombme rated it it was amazing. Sauer shares a fascinating professional biography with us. First, he shares his experiences about working at the SEC enforcement division -- breaking down a couple corporate fraud stories. Then gives us a perspective on municipal bond disclosures and politics. Finally, he walks through his time at a short-focused fund Copper River.
This multi-faceted experience weaves together some hard learned conclusions. It's difficult to count on the SEC to stop financial crooks in a timely manner.
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Even worse, if you become a vocal critic of these corporate abusers, you run into the financial, legal, and reputational risks yourself. And the government may not always be on your side! From the fund management perspective, another takeaway is to diversify your investment banking relationships. When the crunch time comes, a hedge fund may run into partner risks that can become existential.
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Bottom line, when you become a public critic of the bad guys, do not be surprised to get some rocks be thrown your way. Your own house better be made of steel, or better yet, be a bunker. Jul 03, Erin rated it it was amazing Shelves: At turns pithy, pungent and poetic with some of the most marvelous metaphors coined by a lawyer, this book offers powerful insight into the unexpected benefits of short sellers and the financial crisis and reactionary moves by regulatory agencies and financial institutions that the author theorizes were their undoing with unexpected detrimental results on the market as we confront it today.
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You don't have to be a securities lawyer to enjoy this book although, ahem, full disclosure I am - just At turns pithy, pungent and poetic with some of the most marvelous metaphors coined by a lawyer, this book offers powerful insight into the unexpected benefits of short sellers and the financial crisis and reactionary moves by regulatory agencies and financial institutions that the author theorizes were their undoing with unexpected detrimental results on the market as we confront it today.
You don't have to be a securities lawyer to enjoy this book although, ahem, full disclosure I am - just anyone who's interested in seeing things from the eyes of an ex-SEC Enforcement Attorney who's also done turns at the wheel of biglaw and a hedge fund. The author passionately pursues his theories from all angles with colorful language and a coherent presentation of complex facts. Happy addition to the "why I geek out over the stuff I do" bookshelf.
Jan 16, Gabriel Pinkus added it. A quite detailed book on this particular man's investigations into international financial frauds whilst working at the SEC. This is a very informative book for the international investor, securities lawyer, or accountant interested in fraud. It reveals a piece of how the SEC and short-selling work, as well. I can't promise future reads that this book is particularly well-written, but I can tell you that the experiences this gentleman went through were worth reading for me because of what I lear A quite detailed book on this particular man's investigations into international financial frauds whilst working at the SEC.
I can't promise future reads that this book is particularly well-written, but I can tell you that the experiences this gentleman went through were worth reading for me because of what I learned. Dec 13, Tom rated it did not like it. Even though I tend to agree with the overall thesis, I thought the book did a poor job of convincing and a poorer job of describing the details and history involved.
Jill Ahluwalia rated it really liked it Aug 30,