Flaws in Wall Street Business Model

The Book Wall Street Doesn't Want You to Read: Author Exposes Flaws in Wall Street Business Model, Provides Insight to Avoid Being Scammed


As a top-producing Wall Street stockbroker for 20 years at some of its largest firms, Bruce Fleet has had the opportunity to see everything - the junkets, the incentives, the sales strategies, the product preferences and most of all how customers are treated. Part memoir, part financial education, his new book, "Demystifying Wall Street: Shedding a Little Light on the BULL!" (published by AuthorHouse - http://www.authorhouse.com) will empower and entertain readers with an inside look at how Wall Street operates.

Past experience as a car salesman allowed Fleet to uncover many similarities between selling cars and selling stocks, mainly the role of incentives. The book reveals a perspective that is often lost on consumers: Salesmen, whether of stocks or cars, are paid to sell products. At the end of the day, they work for the manufacturers of those products; therefore their interests are never aligned with the buyers.

A whistle-blower's story, the book will show readers how Wall Street's business model is designed to exploit rather than enhance buyers' finances:
Despite the bull, the advertisements and all of the lip service, stockbrokers can never be the trusted advisers they pretend to be. If they were, and put clients' interests ahead of their own, they'd be broke. Yet, the average income of stockbrokers is several hundred thousand dollars and can stretch into the millions.

I explain how this then translates into a lifestyle trap for Wall Street stockbrokers, how they have to produce, produce, produce to maintain their lifestyles ... Managers want brokers to get nicer cars, buy bigger houses. They hold out carrots at the office too - corner offices, secretaries, trips - all in a design to keep brokers in the firm's nest, doing their bidding.
Rife with information, including charts, tables and graphs, "Demystifying Wall Street" is meant to be used as a resource guide - a resource guide that tells a story. From financial planning to product choices to risk management, the book serves as a survival guide to provide investors with the knowledge necessary to fend for themselves in the investment jungle.

Bruce Fleet is a veteran of Wall Street firms, having worked in the investment industry for over two decades, training hundreds of financial advisors and lecturing to thousands of investors. He earned his Certified Investment Management Analyst designation and Investment Strategist Certificate at the University of Pennsylvania, via the Investment Management Consultants Association. "Demystifying Wall Street" is his first book.