Recounts the author's experiences as a money dealer for one of the world's most powerful merchant banks. This book tells of the money markets on both sides of the Atlantic and covers the decline of his employers at the end of the 1980s.
From Geek to ManMen in general judge more by the sense of sight than by the sense of touch, because everyone can see but only a few can test by feeling. Everyone sees what you seem to be, few know what you really are; and those few do not dare take a
..."ake a stand against the general opinion. - Niccolo Machiavelli, The PrinceContinua...Nascondi
Great portrayal of the minds of traders in the investment banking industry... the story of ambition and greed. I love the sections of Michael's personal experience but less in his description of the problems and power struggle of US market
Salomon didn't exist anymore (it's now a subsidiary of Citibank) but the rise and fall of this investment empire was still inspiring - after all these years. Perhaps it's also a guidebook about how not getting lost in the money-jungle.
Each person considered himself essential to the future of Salomon Brothers. I, too, considered myself essential to the future of Salomon Brothers, but that in itself was no assurance when everyone else felt the same way.
An aspect of the genius of Gutfreund was his ability to cloak his own self-interest in the guise of high principle. The two could be, on rare occasions, indistinguishable. (If there is one thing I learned on Wall Street it's that when an investment
... banker starts talking about principles, he is usually also defending his interests, and that he rarely stakes out the moral high ground unless he believes there is gold under his campsite.)Continua...Nascondi