Accidental investment banker, a good book to know about how investment banking industry has operated in last decade, especially on wall street. For an outsider like me, the book gives a birds eye view on what’s the industry like? What’s the job role like.
The book explores history of Goldman Sachs and Morgan Stanely the two venerable firms on the street. For an MBA student with interest in finance, The feeling was like speaking to an I banker and having candid conversation on what’s good in the job what’s bad in the job, what’s working and what’s not working these days.
According to author, Sidney Weinberg (on whom I plan to read soon) and his relationship banking may be gone form the industry. But I believe it’s still one of the important aspects of any business. I know at least dozens of folks who would vouch for this.
The events such as Merry Meekar's, Curry's and Phill purcel's gives another insight on how the wall street is not different than our world (exception ofcourse money). The incidents of NJ senator Corazon and the sec and Henry Paulson are also interesting and knowing the looser side of today’s winners.
On the missing part I felt like it was one person’s point of view who had villains identified strongly and who also had his heros. Though full credit to author on identifying weaknesses of his heros right upfront.
The book also felt a bit drag on morgen Stanley chapters. May be because there were more misses than hits there. Impact of 9/11 was not much talked. Though,
Overall a book to read …
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