Readers reviews of Licence to Steal

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If you ever suspected that your interests and the interests of your broker were not perfectly aligned, then this book will confirm your suspicion. This is a  quick and entertaining read, but it should not distract you from the important material in the book.

The brokerage industry is concerned about making money and you, the investor or trader, is the way they make it. Their income stream is enhanced by hidden commissions generated form the sale of brokerage held stock to brokerage clients. This is not just an American phenomena. The same structure can apply to any country where brokerages are given IPO stock to sell to customers. The principles remain the same, although the mechanics may change slightly.

The most important impact of this book is to encourage you to more closely monitor what is happening with your account. You should hold your broker more accountable for his actions, and apparent mistakes. It may encourage you to  approach an IPO issue with more caution, or at the very least, provide you with some   tools to help take advantage of the way IPO   launches are sometimes managed.

Every industry has its crooks. The brokerage industry is no exception, and this book goes on the shelf next to Foster Winnians and Liars Poker. Read this book and watch the movie Boiler Room.

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