With compelling clarity, Henwood dissects the world’s greatest financial center, laying open the Intricacies of how, and for whom, the market works. The Wall. In , though, such arguments were pretty close to unheard of. Which is what makes Doug Henwood’s book Wall Street, published that year. PUBLISHERS WEEKLY. ADVERTISEMENT. Wall Street: How It Works and for Whom. Doug Henwood, Author Verso $25 (p) ISBN

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This is extraordinarily good news for lovers of free valuable things. How It Works and for Whom. He then worked for two years as a copywriter and assistant to a medical publisher in New York.

On November 11, Henwood announced that he would streey retiring Behind wwll News in its current form; instead broadcasting from another venue and on his website. Jason Schulman rated it really liked it Jul 30, It also discusses features of these markets, namely efficiency, disinformation, noise, fads, and bubbles.

This chapter covers the range of instruments traded on Wall Street, such as stocks, bonds, derivatives, currencies etc. He appeared in Lewis H.

Internet blag of the year – “Wall Street” — Crooked Timber

High industry valuations in the market are associated with flows of private and some public equity into the same sector and hence capital allocation — see biotech and IT over the walll 15 years or so. Jul 21, Jon-Erik rated it really liked it Shelves: He is married to journalist Liza Featherstone. Very little can be said to have changes since its publication and it is by far one if the best straight forward douug of the machinations of our strete system.

Public Affairs Event Format: Huszar finally realized something that would surprise an “economist” but not a socialist: They are absolutely terrified of workers joining together and fighting for unions. Of course it does provide funds to corps via IPOs, but as I show in After the New Economy, it does that most intensely when buying the offerings makes the least economic sense.


What about various secondary stock offerings as a source of funds? This is especially so since many of these acquisitions are paid for with stock, rather than cash. William Uspal rated it really liked it Jul 10, It also includes a sample trading week to put these concepts into action.

If private equity investment follows market valuations then the market is a capital allocation mechanism and source of stredt, even if it is indirect. Sarah rated it it was amazing Jan 05, Unfortunately his own ideas are stdeet to implement as any real solution will be because they count on a massive cultural change from bottom-up institutions.

Lists with This Book. Also, in a world with Shleifer-Vishny limits to arbitrage, we may only be able to hold the weak efficient markets hypothesis or what Rajiv Sethi prefers to call the Invincible Markets Hypothesiswhich says that it’s impossible to beat the market, but not that the market correctly values real-world assets–meaning that it may not be an efficient allocator of capital even when used as such.

Henwood had been a regular contributor to Samori Marksman ‘s show, starting in The central bank continues to spin QE as a tool for helping Main Street. This chapter covers the main stakeholders including households, nonfinancial business, financial institutions, the government etc.

Wall Street: How It Works and for Whom

As a percentage of total market cap, IPOs never exceeded 0. With compelling clarity, Henwood dissects the world’s greatest financial center, laying open the Intricacies of how, and for whom, the market works. In light of recent excesses from Wall Street executives, plus stret about executive compensation from President…. After college Henwood worked as secretary to the chair of a small Wall Street brokerage firm headed by a former Bell Labs physicist that used quantitative analysis techniques in the mids, predating the later widespread adoption of similar methods on Wall Street.

And though, as Henwood reveals, their activity contributes almost nothing to the real economy where goods henaood made and jobs created, they nevertheless wield enormous power. The politics are left to a minimum and the book and it seeks an objective view of all major stakeholders and what they do in Wall Street. How can something so socially useless dominate American politics to such an extent that the only serious policy for solving the greatest economic crisis since is pumping money into socially useless Wall Street?


This function is still, of course, related to capital allocation, just like an exhaust system affects the performance of a car engine, but the connection may be much less direct than the Econ picture would lead us to believe. This chapter presents the numerous financial models that have been devised to simulate the market.

Doug Henwood – Wikipedia

You can download it for free here. Oct 26, AC rated it it was amazing Shelves: Feb 22, Justin rated it liked it Shelves: The insight, stories and practical example presented make this book accessible. Henwokd 20, Subvert rated it it was amazing.

Once you get his point that the financial system is smoke and mirrors designed and implemented to protect wealth, the only point in continuing is for all the gritty details. Interesting in parts, overly minute in others.

Trivia About Wall Street: If you’re in a position of influence, read the whole thing! I was quite happy with the results. Srteet live in Brooklyn with their son, Ivan, born 1 January If you’re curious I’d recommend reading the introduction and chapter 2 players. Behind the News features interviews with activists, intellectuals and academics, preceded by a summary of recent economic headlines.

Oct 13, Omar Halabieh rated henwpod really liked it. Home Comments policy Subscribe.

This would probably decrease volatility and may be liquidity too…. A really stellar book — it can be download for free here: I give DH a hebwood of credit: This is an interesting book to read over a decade later because