Trading Secrets

R. Foster Winans, Author St. Martin's Press $19.99 (348p) ISBN 978-0-312-81227-0
Winans, the former Wall Street Journal staffer who made national headlines in 1984 when it was revealed he had been leaking advance information from his influential column to a major broker for their mutual gainhas written a riveting account of the affair. Now awaiting review of his case by the U.S. Supreme Court, Winans never denies his ethical (as opposed to legal) wrongdoing. On the contrary, he often reiterates his shame and humiliation in this book, written, perhaps, out of the same financial need that led him to tell a former Kidder Peabody broker which stocks would be touted in his column. The book's main appeal lies in Winans's descriptions of the scandal's unlikely partners: himself, young, gay, naive and broke, unaccustomed to a powerful job; broker Peter Brant, a wealthy charmer momentarily down on his luck, whose glamorous ways appealed to Winans. The author's attack on the Journal's coverage of the scandal may seem disingenuous, but that paper's use of an inexperienced writer in such a sensitive spot will mystify many. This is fast-paced, well written and will be read eagerly by the business crowd. 60,000 first printing; 60,000 ad/promo; first serial to Esquire; Executive Program/Macmillan Book Clubs special selection. (September 29)
Reviewed on: 08/15/1986
Release date: 08/01/1986
Mass Market Paperbound - 978-0-312-90728-0
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