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(September 15, 2015 Release)

Business Simulation -- Investor's Business Daily

UPDATE! Version 7.80 of W$R is now available, now including the option to play against MULTIPLE computer traders; option of automatic "sweep" of cash balances to pay down loans; 1-year cash flow projection for player; performance ranking of ETF's; trading of physical commodities for all companies (buy and store), as well as the ability to trade (simulated) commodity futures; other new features include ability to list stocks or assets for possible sale to other players or companies (or buy items offered by other players or companies that are "listed" as being for sale); ability to "look under the hood" at corporate data for ownership of all of the various types of assets or contracts (such as interest rate swaps, futures, options, etc.).

Other important features added in recent releases include stock index futures trading; investment management contracts for ETF's; 5-year charts for commodities, interest rates, GDP growth rate, the Stock Index, and of each player's net worth; 15 ETF's (Exchange-Traded Funds, or investment companies, each investing in a particular sector); interest rate swaps (derivatives -- "bets" on future interest rates) that you negotiate; commodity futures trading on oil, metals and grains; executive stock options if you become CEO of a company you control; 5-year stock charts for each of the 1590 companies and ETFs, plus streaming stock quotes for up to 15 stocks; also short-selling and highly realistic put and call options trading! (Some of above features not enabled in free version.)

For update information and a description of new features in Version 7.80, click here.

WALL STREET RAIDER (for Windows XP, Vista, Win 7 & 8) is now played by (registered) users in over 95 countries, ranging from Sharjah to Vietnam to Cyprus to Paraguay to Greenland to Namibia to Barbados to Slovenia to the Sultanate of Brunei and beyond. It is widely recognized as the ultimate in sophisticated financial simulations, a corporate takeover and stock market game and simulation, in which players strive to build their corporate empires by fair means or foul, all the while trying to stay one step ahead of the SEC, IRS, Justice Department, EPA, Congress, powerful unions, corrupt governments, and no end of ruthless competitors -- not to mention various manmade and natural calamaties and economic disasters.

NOTE TO MAC AND iPAD USERS: Click here for information about running Wall Street Raider on a Mac or iPad.

In this highly realistic simulation, 1 to 5 players (including the computer, if you choose) compete to amass fortunes by investing in, or taking over and managing, any of up to 1590 companies in 70 industry groups.  Once you acquire control of a company, you and your company will use all the tricks of the trade of real Wall Street corporate raiders ("Wolves of Wall Street") to expand your empire and net worth, including:

  • trading or investing in stocks and Exchange-Traded Funds (ETF's)
  • trading or investing in corporate and government bonds
  • gaining voting control of companies, in order to run them (and try to manipulate their earnings and stock price)
  • industry domination and monopolization, by increasing your company's (or companies') market share in a particular industry
  • increasing capital spending to take advantage of lucrative rates of return on capital in your industry, as well as to increase or maintain market share; or decreasing or eliminating such spending to increase cash flow, in order to diversify or pay down debt
  • setting bank lending policies, such as restricting lending to competitors, for any banks you control
  • options trading, for speculation or to hedge stock positions
  • short selling of stocks, options, and commodity or stock index futures
  • speculating in or hedging with commodity futures and stock index futures
  • trading in physical commodities (oil, gold, silver, wheat, corn)
  • speculating in ultra-high-risk interest rate swaps, by creating custom-made derivatives contracts (that are bets on the future direction of various interest rates)
  • having banks or insurance companies you control invest (speculate) in high-yield junk bonds or risky "subprime" mortgage securities
  • startups/IPOs
  • private placement stock offerings to raise "outside" private money or from within your corporate empire
  • cash or stock tender offers for corporate takeovers, or cash tender offers for LBO's
  • "greenmail" stock buybacks to get rid of hostile or unwanted minor shareholders in your companies
  • stock-for-stock mergers to diversify or to gobble up competitors and increase industry dominance
  • LBO's (leveraged buy-outs)
  • "white knight" defenses to protect your control of a company by bringing in "neutral" corporate shareholders
  • buying up distressed debt (bonds) of companies in financial trouble
  • launching antitrust lawsuits and other litigation to harass financially vulnerable competitors, or sometimes win large judgments or settlements
  • mass layoffs and restucturing of companies to increase efficiency and profitability
  • spin-offs or liquidations of subsidiaries, tax-free or otherwise
  • excessive salaries and lavish executive stock options, provided by a company you control, if you are elected as its CEO, plus possible large performance bonuses for increasing earnings
  • increasing dividends of companies you own (or cutting their dividends, to conserve cash)
  • firing management
  • asset downsizing
  • recapitalizations
  • tax avoidance strategies to avoid income taxes and various taxes on capital
  • asset-stripping liquidations
  • manipulating earnings by increasing/decreasing spending on R&D or marketing
  • manipulating earnings by using "hidden" accounting reserves
  • earning management fees from Exchange-Traded Funds (ETF's), for securities brokers or insurance companies you control
  • using any and all methods to get the stock price up, in a company you control, including sometimes engaging in "unethical" (but risky) actions, and
  • delegating most management decisions in your corporate empire, Warren Buffett-style, by turning on the new "auto-pilot" feature in recent versions, once you have acquired control of too many companies to effectively micro-manage them all, while still making the major decisions on choices like which companies to buy or sell or merge, or which industries to enter or exit
... and much more, all in the quest for the Almighty Dollar. The individual player can engage in risky (but sometimes lucrative) activities for his or her own account, such as short selling of stocks, and players or companies can engage in buying and shorting put and call options and commodity futures on crude oil, gold, silver, wheat, and corn, or can gamble with massive leverage on interest rate swaps (derivatives contracts). Although the U.S. dollar is the default, players also are able to instantly configure the simulation for any one of 22 other currencies, before starting a new game.

And, of course, you'll have ample "ethical choices" thrust upon you from time to time, where you will have to choose between playing ethically, or (possibly) winding up in serious legal or financial trouble if you decide to "Go for the gold," rather than "do the right thing." Recent versions even include a "Cheat Menu" that lets you obtain "insider information" on upcoming mergers or major changes in a company's fortunes (good or bad), which you can greatly profit from. Of course, there's always a chance your informant may turn "stool pigeon" and you may thus be prosecuted for such illegal "insider trading...."

All your investment research and financial wheeling and dealing occur against the backdrop of a constantly shifting economic and political environment in which you and all the companies and industries in Wall Street Raider must operate and try to cope. The main screen is your Trading Desk, on which you can always see a nonstop "live" stock ticker tape, a scrolling financial news tape, flickering, constantly updating stock prices on your "streaming quotes" list of up to 15 stocks, as well as frequently changing spot prices for each of 5 commodities and the (tradeable) Stock Index, plus the current GDP growth rate of the economy and various interest rates (long- and short-term government bond yields and the Prime Rate). One section of the Trading Desk also shows your personal financial balance sheet, so you can see your personal net worth and available bank line of credit (if any) fluctuating second by second.

Speedy decision-making is of the essence, and sweaty palms are a certainty, as you try to cope with and anticipate changing markets, and keep your company's earnings on an upward track -- or at least keep yourself out of Bankruptcy Court! You also have to deal with cash flow issues and try to keep powerful competitors from squeezing your company's profitability or seizing control of your company -- unless the price is right, of course!

Download a free ("shareware") copy of Wall Street Raider here (for Windows XP/Vista/7/8 or 10):

Download Wall Street Raider for Win 7/8

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Take a look at our comments page, to see what users say about Wall Street Raider.

Or read this detailed review of W$R on the Daily Speculations web site of legendary hedge fund manager Victor Niederhoffer. (In one of his books, George Soros wrote that Niederhoffer was the only one of his managers who ever retired voluntarily from trading for him while still ahead.) Niederhoffer's hedge fund was ranked #1 in the world, earning 35% a year from inception to 1996 but, alas, he was nearly wiped out in 1997 by excessive speculations in Thailand. Since then, he says he has been "...crawling back up the stairs, not entirely without success," after mortgaging his house and selling off his collection of antiques in 1998. As in Wall Street Raider, the real financial world is a jungle, in which one can go from riches to rags in a heartbeat....

Or, view a series of YouTube VIDEOS one game reviewer created, showing you what playing a game of Wall Street Raider is like, plus his commentary. These are the first of a series of videos this chap (an obvious W$R junkie and expert) is creating, all of which are accessible on YouTube. The videos will give you an idea of some of the things you can do in Wall Street Raider (based on Version 7.60) and strategies for getting ahead.

Wall Street Raider has received a number of very favorable reviews over the years from major Web sites, such as ZDNET, and PCWorld, as well as highly favorable reviews in print publications, including the Wall Street Journal, Byte Magazine, PC World, and, on June 22, 2000, we rated a two-column, very favorable front-page article in Investor's Business Daily, which called W$R an "...imaginative, stimulating..." business simulation.

Previously, famed computer columnist Jerry Pournelle had written of W$R, that "You can really learn something about stocks, mergers, takeovers and the general world of finance, and have a whacking good time in the bargain."

As another reviewer, at the 3D2F.COM software directory, notes, "Wall Street Raider is an award-winning financial simulator that critics have praised as being 'imaginative, stimulating and educational.' In this game, you will start your own career and as a market player, investor, broker, owner of your own business - no matter which role you choose, you will have to elbow your way through a horde of competitors to reach the pinnacle of success."

GIVE US YOUR OPINION:   Do you love W$R? Hate it when you go bankrupt all the time? To register your opinion, by giving us a thumbs up, or thumbs down, go to the ratings page....

To download a free copy of the shareware (evaluation) version of Wall Street Raider ("full-screen version" for Windows), click here.

Or download from this site: IT Shareware - A shareware and freeware collection with reviews and free downloads. Categories include games, Internet & network utilities, screensavers, audio & video, graphics, and business applications.

To order the registered version of Wall Street Raider, or the Windows Version "Add-on Package," select one of the ordering links below, for the Windows or DOS versions:

  • $21.95 for the Windows registered version of W$R, plus the "Customizer Utility" program.
  • $29.95 for the Windows version, "full package deal" -- Consisting of the Wall Street Raider game software, plus the "Customizer Utility" program and the (electronic) strategy manual, "Wall Street Raider -- The Book" (NOTE: THERE IS NO PRINT VERSION OF THE MANUAL.)
  • $15.00 for the Add-on Package Only, which includes the new (electronic, not printed) strategy manual, entitled "Wall Street Raider -- The Book" (an electronic book about W$R, in HTML format, now also with a Word (.DOC) file version, for easier printing), plus the Customizer Utility program, that works with the W$R Windows version software. (This add-on package is for those users who already have the registered version of the W$R software.)
  • $250.00 for a site license and downloadable copy of the "Full Package" version, which includes a site license to distribute up to 50 copies of W$R to students or for other end users. For home schoolers or other small groups, contact us at the email address at the bottom of this page for possible reduced price for a site license.
  • or $14.95 for the DOS version (Note: Development of the DOS version ceased in 2001; it is now an "antique" program -- It will NOT run on 64-bit Windows 7 or 8 systems.) As a DOS program, it does NOT run on 64-bit Windows 7 or 8 systems.)

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PURCHASE INCLUDES REDUCED PRICE UPGRADES (CURRENTLY $12.95 U.S. for the full package that includes the latest version of the (electronic) W$R strategy manual and the "Customizer Utility" program).   When you order a Windows version of Wall Street Raider, your purchase also includes the right to order future updates/upgrades at a greatly reduced price, currently $12.95, instead of the regular price of $29.95.

See the updates page to see what improvements have been added since the version you currently have, so you can decide if or when to purchase upgrades/updates.

NOTE: When purchasing through SWREG's secure server online e-tailing site, you will not instantly download the program, but will automatically be sent an e-mail by SWREG, notifying you that your order has been accepted, and giving you the URL where you can download the registered version of the program during a specified number of days. If you do not receive your registration/download information, please contact SWREG. Ronin Software does not process the credit cards. (And be sure to check your "SPAM" in-box, if you do not immediately receive an e-mail link from SWREG -- that's where it is likely to be, 99% of the time.)


Click here to see a sample screen shot of Wall Street Raider (Windows version).
Here, to view a sample Entity Research Menu and industry outlook commentary.
Or here, to view a sample General Research Menu and economy & markets commentary.
Click here for a sampling of News Headlines generated by events in a typical game.

NEW! Wall Street Raider now also has a "blog" fan site -- see the link here.... Check it out, if you want to brag to or otherwise communicate with other Wall Street Raider addicts...!

PRIVACY STATEMENT: Ronin Software will not sell or divulge any information about visitors to this site or anyone who downloads or purchases our software or books. Any information you provide our on-line reseller, Digital River (SWREG), will only be used by them for administrative purposes, and will only be used by Ronin Software to notify you of future upgrades of the product you have purchased or for customer support. Please see also our Vendor's (SWREG/Digital River's) Privacy Statement. You take your privacy seriously, and so do we.

NOTE FROM THE AUTHOR TO MAC AND iPAD USERS: Wall Street Raider is a Windows program. However, there are now a number of applications you can use to run Windows programs on your Mac, such as the combination of Wine/WineBottler (which is free), or commercial programs like Parallels Desktop or Crossover. Because newer Macs use Intel processors, they can run Windows and Windows applications as quickly as PCs. Most such apps require you to (buy and) install Windows on your Mac, although Wine/Winebottler and the commercial program CrossOver do not. We do not recommend any specific Windows virtualization or dual boot programs, but we have heard from users of Crossover that it works flawlessly with Wall Street Raider, though you may not want to buy it, just to run W$R. Parallels Desktop also works perfectly with W$R, which is not surprising, since you need to buy a Windows license and install Windows to use Parallels.

Also, there is now a subscription service call Parallels Access that offers an iPad app that will allow you to run Windows programs on an iPad, even Microsoft Office programs.

We cannot guarantee that Wall Street Raider will be stable on these virtualizers, so we STRONGLY suggest that, before you buy a registered copy of Wall Street Raider to run on your Mac or iPad, you download and play the shareware (free) version of W$R for a while with the Windows virtualizer app you have installed, if you have one. If the shareware version works OK on your Mac or iPad, the registered version of W$R should also, since the shareware version simply limits access to some of the game's internal logic features and the length of games, and is a somewhat smaller file, since many of the features of the registered version (like options trading) are simply not compiled in the shareware version. You may also want to do a Google search for "Run Windows programs on a Mac," to see what else may be available, currently.

IPAD APP: Many fans of W$R have asked if there is an iPad "app" being developed. There was, but not at present. In 2011, I licensed my W$R source code to a company that tried to develop a simplified iPad version of W$R, but they eventually ran out of development money after two years, before they could get it to work properly, as W$R is an extremely complex program, in terms of the logic involved, which requires an understanding of finance, economics, accounting, and taxes, etc., to understand how it SHOULD work. Programmers who also have professional backgrounds as tax lawyer, CPA, successful investor and options trader, writer, and consulting economist are not easy to find. I have that background, which enabled me to develop W$R, using the PowerBASIC compiler, an easy way to write Windows programs, but I am not a software engineer, so I lack the tech skills to convert W$R to a Mac or iPad app.

Development of an iPad version resumed in May, 2014, and if successful this time, an app was to have been available some time in late 2014. However, the developers apparently ran out of funding again, and still could not get 2+2 to equal 4 in the iPad version, so the latest effort was also abandoned. We are still hopeful that a large, well-funded software company might be interested in developing an iPad or iPhone version, but are not optimistic. We have no desire to spends hundreds more hours of consulting time with a software developer that is unable to create an iOS version that works. (Or at least, not without a sizable up-front payment!)

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Last modified: January 1, 2016