Why You Can’t Beat Wall Street

When it comes to any significant event or task, there are always various opinions and conspiracy theories. I was fortunate to get my hands on a book targeted to revealing why you just can’t beat Wall Street.

The book is called The Losing Game: Why You Can’t Beat Wall Street and aims at sharing why investing your money in Wall Street is just as good as throwing it away.

The author of the book, T.E. Scott, is a former employee of Eastern Airlines. The company eventually went bankrupt, and Scott ended up losing all his preferred stock that he was given by the airlines. He now sees Wall Street as the biggest con game in history.

One of the main arguments Scott pushes is that the stock market is a sum-minus game. Meaning that for all the money somebody makes another is losing it, so right off  the back the odds are against you for blossoming in the markets. He also looks at the “real” purpose of the regulatory commissions and how many of these so-called “experts” make more money selling their schemes and products than using their own advice themselves.

While the book brings up some interesting and valid points, it is important to remember that Scott is targeting the investment community as a whole rather than “eagle eyeing” on only the successful. So while you might have experienced some success, for all those gains, other people had to experience some losses.

Regardless of your current thinking or beliefs, The Losing Game is actually a pretty good read. When the book was first brought to my attention I was interested to see what Scott had to say.

Overall, it is a pretty easy yet informative read, and combines a little bit of humor with some eye opening data and ideas. I would recommend this book for those with any bit of interest in the stock market.