Inside Out: An Insider’s Account of Wall Street by Dennis B. Levine and William Hoffer
By Lawrence 
Summary: A first person account of one of the very famous insider trading scandals in the 1980s. The perspective is interesting as it exposed the behind the door scenes on how deals were made. The dynamics that happen around a deal from the people involved, to the wild swings in the stock prices and the frenzies with the media is well worth studying. I consider this book something to reflect on – if you were in his shoes, can you resist the temptations?
| Book Information Inside Out: An Insider’s Account of Wall Street | [starreviewmulti id=2 tpl=31 size=’12’ average_size=’24’]
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Review
This book is the first person account of Mr. Dennis Levine‘s involvement in one of the most famous insider trading scandals of the 1980s. The author rised in his rank in the merger and acquisition business over a short period of time into a major player in the industry. His access to insider information in various companies gave him the advantage in which one can profit handsomely from insider trading. His involvement in insider trading eventually led to the conviction of other major players in the mergers and acquisitions circle.
The difference of this book is that the author put you into the scene of the world of mergers and acquisitions. From a trader’s perspective, it is very interesting to see how these deals are done over time and how these deals affected the price of the stocks involved.
One of the most useful thing the book tells us is that there is no such thing as secret when it comes to profiting from insider information. The moment someone famous and powerful keeps profiting from his secret trading, the trades will be copied. It is not difficult to relate this to the current market environment where the politicians, central bankers and those working closely with them are doing the same. But no one is catching the criminals any more.
I don’t care if the author twisted the stories to paint a better picture of himself. The readers can decide for themselves after reading the book. Overall it is an easy to read story book.
If you do not know about the 1980s scandals, this book is a good read about that.
