A Study Of Fund Management And Assets Allocation Over Time

In the introduction of the book, Ho explicitly states all of her credibility through the positions she held and the connections she made throughout her fieldwork at Wall Street. In addition, Ho is clear in her collection of data through multiple different mediums and different audiences. However, Ho does discuss her racial background and the diversity of those who she was interviewing, yet she does not continue this discussion throughout the book. Additionally, the language and vocabulary used throughout the book are highly specified for a specific scholarly and informed audience. Therefore, while this may not be the best recommendation to those who are not knowledgeable about financial terminology, there is still a substantial amount of research and data about the culture of Wall Street. Overall, this book makes a contribution to the literature on work because of its unique and detailed perspective about a small pocket of industry that ultimately, becomes a model of how work should be conducted. Wall Street shapes not just the stock market but also the nature of employment and what kind of workers are valued. Investment firms are the nucleus of the work market and influence corporate America in the way things should be constantly moving and changing in the market to remain efficient. It is then evident how this ethnography is a key addition to the studies of

The significant finding from this article is that the world of finance is a very strange world. This world can offer opportunities to many, and at the same time, it can prove to be a mess for the others. Many people are not corrupt in their person, but by being negligent or by being careless, they fail at doing their duty successfully at some points in time. However, what the article talks about is the complete picture. Steven A Cohen faced a problem. He got entangled in an enormous financial mess.

The stock market is a risky business. Investing can make you wealthy beyond your wildest dreams, in which only a few investors have found the formula. Otherwise making the wrong decision

This book talks about how Bernie Madoff was a liar and a cheat to American society where people got used betrayed and lied to because of him in belief they were going to becoming wealthy. Madoff was the world’s biggest thief that stole millions from people and destroyed numerous lives. He made people believe they were going to ‘get rich quick’ and that was his incentive on getting people to participate in his schemes. The book reports how this crook used his legal business as a broker-dealer and his standing as an innovative creator of Nasdaq to attract investors and avoid harsh scrutiny from the Securities and Exchange Commission. It described how he parlayed the reputations of a few valued and respected investors and associates into large followings in high-class communities like the Upper East Side of Manhattan and Palm Beach, and how he used feeder funds, which drove clients’ money to him, to extend his global reach.

In our lecture about “power” we used Max Weber’s definition of power, which is “an ability to bring about an intended outcome even when opposed by others”. In order for one to achieve power they must be knowledgeable and have the essential resources. With our Wall Street employees, one can see they were obviously very knowledgeable especially when it came to manipulation. Power allowed them to govern their own system and abide by their own set of rules in which they created. The amount of power Wall Street had made it seem as if they were a government system apart from the U.S’s government system. Their government allowed them to trick people into making unwise investments they would soon

Occupy wall street is a great example to show the big and rich corporation are just greedy, during the 2008 Financial World Crisis what lead that to happen is because is rich corporation is being greedy they are trying to look for a low risk but high return investment, so they’re plan was giving people mortgage even though they don’t good credit, so the housing price will skyrocket because back when giving mortgage for people that have good credit mortgage debate was good investment. The Richer corporation wants to be greedy starting to buy more and more of these securities, and they also made loans without verifying income and offered absurd, adjustable rate mortgage with payment people could afford first, but later it will beyond enlarge

Another ethnography of Wall Street was carried out by the anthropologist Karen Ho, who, like Gillian Tett, gives us a true perspective about the nature of the financial industry and helps suggest important factors about a liberal democracy in contemporary times. In her book, Ho raises certain issues with regards to the culture of finance. The banks high employee liquidity created a culture of job insecurity, often using practices and assumptions in effort to create and increase shareholder value. However, the attempt to appreciate the value was through the means of the derivative market, which became an obvious indicator that their assumptions would lead to an economic crisis. Capitalism is run by Wall Street personalities who have strong,

The article summarizes the authors distaste in the reality that Wall street executives maintain an ever constant authoritarian stance on the “economy” as a model of generating income, claiming an understanding that only those within their ranks possess. The article attributes it as “epistemological”, I would agree, and go as far as to make an analogy to the days when the bible was in a foreign language, and the language of “god” could only be given to them by their leaders of the church, an archaic and authoritarian model of thinking.

Lewis focuses the book from the perspectives of leaders from three investment firms that saw the future of the financial market and its inevitable collapse in the early 2000’s. Though given the opportunity, these men were not heroes. Instead of spreading the news and rebelling against Wall Street for infecting the market, they were more interested in making a profit. Michael Burry was focused on his company Scion Capital and buying credit default swaps to make both him and his investors’ money. Charlie Ledley and Jamie Mai focused on betting against Wall Street and ultimately in the end made fortunes.

There is a dark side to this American dream, and at its very foundation lies the flaw of man - greed. The Wolf of Wall Street details the personal experiences of Jordan Belfort’s American dream. It is a tale that embodies the society that America has laid and the society that has come to fruition. The memoir foretells

Generally, the society believes that a degree in Economics is critical to opportunities such as investment banking. Nonetheless, acquiring employment in a company like Salomon Brothers changes an individual’s perspective. An individual learns that trading is more inclined to exceptional analytical skills rather than formal training in economics. I believe that Liar’s Poker is a perfect illustration of the trading world. It shows that the sector involves taking risks without regrets; this means that a trader should neither moan nor cry in the face of loss. In the contemporary society, the Liar’s Poker game encourages individuals to take responsibility for their

“Liquidated: An Ethnography of Wall Street” by Karen Ho published in London in 2009 by Duke University Press. The book contains 392 pages of content. Reviewed by Luhan Li.

I had the opportunity of listening to a lecture by one of the hosts of “Freakonomics”, a podcast that analyzes the irregularities present in the economy. In Steven Levitt’s lecture, I was given advice to start pursuing my interests early, which led me to apply for a seminar with Morningstar- a company which specializes in fund investing. Like my microeconomics class, this seminar gave me the opportunity of expanding my knowledge in the basic principles. Furthermore, I was also taught the basics of the stock market. Towards the end of the course, my peers and I took a trip to the Morningstar tower, and I was intrigued by the goals that every worker pursued, which was to provide accurate data of which stocks would prove to be good investments.

In the wake of the recent financial crisis, many commentators attempted to analyze the roots of the conflict from a political or economic perspective. Anthropologist Karen Ho, a veteran of Wall Street as well as an academic, attempted to understand the reason that Wall Street behaves the way it does in her 2009 anthropological study of American finance entitled Liquidated: An ethnography of Wall Street from a cultural perspective. The central paradox with which Ho begins her book is: " the economy experienced not only record corporate profits and the longest rising stock market ever, but also record downsizings," further concentrating the wealth in America (Ho 2009: 1-2). But how can corporations grow richer as the American public as a whole grows poorer? Corporations no longer view themselves as responsible for taking care of their employees, creating good products, or serving their original mission. Instead, the focus is on generating shareholder wealth (Ho 2009:3). Shareholders, not the larger public, have become the symbolic and real focus of firm strategy. The shareholder "symbolized and 'stood in' for the whole of the corporation and became the sole locus of concern and analysis" during the time Ho conducted her study in the late 1990s and continues to this day (Ho 2009:175)

If there is one thing to avoid while being a stockbroker it is fraud! Fraud is simply the deliberate trickery of deceit in order to obtain a profit or dishonest advantage over someone. In each brokerage firm there are a select few of individuals that operate under the Securities and Exchange Commission (SEC) to oversee the legal and illegal activities of a corporation. Jordan Belfort was responsible for training his employees to intentionally lie to clients as a means of earning substantial amounts of money. For