This book critically examines the role of the venture capitalists, investment banks and the Federal Reserve in the evolution of the internet "bubble". It also looks at what new companies and managers need to do to avoid the consequences of such "irrational exuberance" in the future.

In Buy, Lie, and Sell High, Harvard Business School Professor Daniel Quinn Mills offers the first systematic analysis of both the Internet stock bubble and the Enron scandal. Drawing upon extensive new research and insider interviews, Mills uncovers both systemic causes and outrageous misbehavior. He demonstrates how each link in the "financial value chain" failed, from venture funds to auditors and regulators. Finally, he offers practical guidance for investors and policymakers seeking to avoid the "next" speculative disaster.