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The Fortune Tellers

The Fortune Tellers

Inside Wall Street's Game of Money, Media and Manipulation

From the author of the New York Times bestseller Spin Cycle comes this engrossing, entertaining exposé of how the media -- from television to newspapers to the Internet -- drive the financial markets today.
The booming economy and mass investing have produced an insatiable demand for financial news and given rise to a group of "fortune tellers" eager to scoop and spread the latest intelligence. In this riveting, unsettling book, Howard Kurtz introduces the powerful journalists, commentators, and analysts whose reports -- too often based on rumor, speculation, and misinformation -- have a real-time impact on the rise and fall of stocks and on the financial health of millions of investors.
Focusing on such well-known figures as cable TV's Ron Insana, Maria Bartiromo, and Lou Dobbs; Christopher Byron and other print reporters who specialize in exclusives; and superstar analysts Ralph Acampora and Henry Blodget, The Fortune Tellers is an incisive, often amusing, and sometimes terrifying report by a journalist well known for his sharp-eyed observations and behind-the-scenes access. In a time of head-spinning volatility, The Fortune Tellers is essential reading for all of us who gamble with our savings in today's overheated stock market.
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  • Free Press | 
  • 352 pages | 
  • ISBN 9780684868806 | 
  • June 2001
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Read an Excerpt

Chapter One: The King of all Media

It was the worst day of Jim Cramer's life.

For fourteen long years, the flamboyant Wall Street trader had worked insane hours, getting to the office by 5:00 each morning, shouting orders, playing each hiccup in the market to make money for himself and his small coterie of investors. He had become fabulously wealthy, grabbed a bit of fame as a magazine writer and television commentator, even launched a thriving Internet news service. He had also gotten into a couple of ethical scrapes, juggling his roles as both media hotshot and market guru, but there was no question he was at the top of his... see more

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About the Author

Howard Kurtz
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Howard Kurtz

Howard Kurtz is the media reporter for The Washington Post, and also writes a weekly column for the newspaper and a daily blog for its website. He is also host of CNN's Reliable Sources, the longest-running media criticism show on television. His previous books include New York Times bestselling Spin Cycle: Inside the Clinton Propaganda Machine (1998) and The Fortune Tellers: Inside Wall Street's Game of Money, Media, and Manipulation (2000). His book Hot Air: All Talk All the Time (1996) was named by Business Week as one of the ten best business books of the year and Media Circus: The Trouble with America's Newspapers (1993) was chosen as the best recent book about the news media by American Journalism Review. Kurtz joined The Washington Post in 1981, and his work has appeared in Vanity Fair, Newsweek, New York, and other national magazines. He lives with his family in Chevy Chase, Maryland.




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