Book Review: One Step Ahead by Timothy Spangler

February 24, 2016

One Step Ahead: Private Equity and Hedge Funds After the Global Financial Crisis by Timothy Spangler is a non-fiction book focusing on the mysteries of finance which seem to evade the layman.

  • 352 pages
  • Publisher: Oneworld Publications
  • Language: English
  • ISBN-10: 1780742959

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My rat­ing for One Step Ahead5
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One Step Ahead: Private Equity and Hedge Funds After the Global Financial Crisis by Timothy Spangler is one of those books I always wanted to read but couldn’t find. Mr. Spangler offers a very informative, high level, information about alternative investments in a most readable way.

The book is dense, choke full of information for people like me, those who not just enough to cause damage before being stripped naked by Wall Street sharks. While I do not intend, nor do I have the funds, to invest in hedge funds or private equity, it is an interesting subject.

The section which I found the most interesting was about taxes and why the income made from investments is taxed at a much lower rate from income earned by actually working. Mr. Spangler argued both positions quite clearly, I did not change my mind, but I certainly understand the other side of the argument much better. The author did change my mind about thinking that the whole private equity financial system is based on stealing money from the middle class, he does delve into that perception as well and admits that those financial industries do have a big PR problem.

Mr. Spangler talks about the structure of the funds, the operations of both private equity and hedge funds, as well as their role in the 2008 financial crisis. The author also discusses financial regulations, laws and enforcement (or lack thereof) and the issues with them (can you say “Congress”?).

This book has a lot of high quality, helpful financial information, yet it is very readable. The author does not vilify, nor defend bad behavior. The author presents the facts about these financial vehicles, both the contributions to society as well as the theft and other shenanigans.

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Zohar — Man of la Book
Dis­claimer:I got this book for free.
*Ama­zon links point to an affil­i­ate account

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