David Meadows is busy. As Director of Research at one of Wall Streets largest brokerage firms, David as received a special assignment from his CEO that will generate, if he succeeds, a $20 million pay day. And David, despite grave concerns about the soundness of some of his decisions, is moving mountains at the moment to earn it. Three of David's analysts are also busy. Each has discovered that "conflicts of interest" means more than merely owning a stock that he recommends on CNBC or pitching a company he covers for its investment banking business. And each has found a unique way in which to exploit the power of his position, for love or sex or money, that is dangerous, unethical and illegal. ""Michael Culp was further inside than the insiders" - Southampton Press "Culps timing could not have been better." Wall Street Letter "I recommend it as a great read for inside tales about Wall Street." Consuelo Mack, CNBC "A fascinating book." CNN Financial News "A gripping saga of corruption on Wall Street¨captivating and suspensfully written." -Midwest Book Review David Meadows is busy. As Director of Research at one of Wall Streets largest brokerage firms, David as received a special assignment from his CEO that will generate, if he succeeds, a $20 million pay day. And David, despite grave concerns about the soundness of some of his decisions, is moving mountains at the moment to earn it. Three of David's analysts are also busy. Each has discovered that "conflicts of interest" means more than merely owning a stock that he recommends on CNBC or pitching a company he covers for its investment banking business. And each has found a unique way in which to exploit the power of his position, for love or sex or money, that is dangerous, unethical and illegal. ""Michael Culp was further inside than the insiders" - Southampton Press "Culps timing could not have been better." Wall Street Letter "I recommend it as a great read for inside tales about Wall Street." Consuelo Mack, CNBC "A fascinating book." CNN Financial News "A gripping saga of corruption on Wall Street¨captivating and suspensfully written." -Midwest Book Review
Drawing on his 27 years of research experience, including almost two decades as a #1-ranked analyst and Director of Research at PaineWebber and Prudential Securities, Michael Culp lets readers live inside a Wall Street Research Department for 14 turbulent months. And in so doing, he demonstrates how the economics that drive Wall Street research will continue to hurt the small investor while revealing some of the temptations having nothing to do with investment banking to which morally challenged analysts could succumb.
For anyone who owns stocks or mutual funds, is investing for retirement or a child's education, watches a little CNBC or ever skims the business section of the Sunday paper, Conflicted will entertain and educate and be hard to put down.
