The Number: How the Drive for Quarterly Earnings Corrupted Wall Street and Corporate America

The Number: How the Drive for Quarterly Earnings Corrupted Wall Street and Corporate America

Alex Berenson


With a brand new Afterword through the writer and a brand new Foreword by means of Mark Cuban

In this commanding big-picture research of what went incorrect in company the US, Alex Berenson, a best monetary investigative reporter for The ny Times, examines the typical thread connecting Enron, Worldcom, Halliburton, laptop affiliates, Tyco, and different contemporary company scandals: the cult of the number.

Every 3 months, 14,000 publicly traded businesses document revenues and gains to their shareholders. not anything is extra very important in those quarterly bulletins than gains according to percentage, the lodestar that investors—and nowadays, that’s so much of us—use to pass judgement on the healthiness of company the United States. profits in keeping with proportion is the quantity for which all different numbers are sacrificed. it's the distilled fact of a company’s health.

Too undesirable it’s usually a lie.

Alex Berenson’s The Number presents a comprehensiv, brutally authentic review of ways Wall road and company the USA misplaced their method in the course of the nice bull marketplace that begun in 1982. With wit and a huge ancient viewpoint, Berenson places fresh company accounting (or responsibility) mess ups of their right context. He explains how the wheels got here off the wagon, giving readers the data and research they should comprehend Enron, Tyco, WorldCom, Halliburton, and the remainder of the company calamities of our instances.

Show sample text content

Download sample