The financial management area has come a long way since Fred Weston in 1954 (Journal of Finance) called for more research in and application of financial theory. Now, Neuberger and Hammond advance investment theory by empirical studies in an area which has received little direct attention. Their researching of new issues' price behavior provides application of observed facts to substantiate policy recommendations framed within a certain investment psychology structure.

Prologue: How to Start a Depression. THE FIX IS IN. The Biggest Scam in History. ''Proper and Consistent Conduct.'' The Edge of the Meltdown. THE STRANGE CAREER OF WILLIAM ISAAC. The Road to Washington. The Butcher Revels. ''I Think We Had Them.'' Darkness at Sunshine State. INTERLUDE: THE OHIO BANK CRISIS. The Friends of Marvin Warner. The Time Bomb Explodes. The Seamless Web (1). THE EDUCATION OF EDWIN GRAY. The Making of an Outcast. Two, Three, Many Empires. Nemesis. THE BIG FIX. The Seamless Web (2). The Greatest Crime. Epilogue: Paying the Price. Notes. Index.