Why I Left Goldman Sachs: A Wall Street Story
| Author | : | |
| Rating | : | 4.54 (797 Votes) |
| Asin | : | 1455527475 |
| Format Type | : | paperback |
| Number of Pages | : | 277 Pages |
| Publish Date | : | 2017-02-26 |
| Language | : | English |
DESCRIPTION:
This remains Smith's mantra as he rises from intern to analyst to sales trader, with clients controlling assets of more than a trillion dollars.From the shenanigans of his summer internship during the technology bubble to Las Vegas hot tubs and the excesses of the real estate boom; from the career lifeline he received from an NFL Hall of Famer during the bear market to the day Warren Buffett came to save Goldman Sachs from extinction-Smith will take the reader on his personal journey through the firm, and bring us inside the world's most powerful bank.Smith describes in page-turning detail how the most storied investment bank on Wall Street went from taking iconic companies like Ford, Sears, and Microsoft public to becoming a "vampire squid" that referred to its clients as "muppets" and paid the government a record half-billion dollars to settle SEC charges. He shows the evolution of Wall Street into an industry riddled with conflicts of interest and a profit-at-all-costs mentality: a perfectly rigged game at
Through the turmoil, Goldman Sachs remained the one bellwether securities firm that could not be toppled, but inside the firm, the culture was changing. --David Siegfried . This finally led to Smith’s famous March 14, 2012, op-ed for the New York Times, titled “Why I Am Leaving Goldman Sachs.” Despite Smith’s pointed criticism of Goldman Sachs, he is otherwise remarkably kind to the company. A well-liked and promising study, Smith rose quickly through the ranks, witnessing firsthand the immediate effects of the tech bubble, the 9/11 attacks, and the housing meltdown. Ultimately, the climate eroded so badly that only the largest commissions, known as “elephant trades,” became the driving force for everything the company aimed for, as clients’ interests fell completely by the wayside. He describes en
Born and raised in Johannesburg, South Africa, Smith graduated from Stanford University and went to work for the firm full-time in 2001. He currently lives in New York City.. He spent his first ten years in the New York headquarters before moving to London in 2011. Greg Smith resigned in the spring of 2012 as the head of Goldman Sachs's United States equity derivatives business in Europe, the Middle East, and Africa
Jack Cohen said Great read - a personal perspective on the culture of greed. I enjoyed this book, which provides an insider’s perspective on life at Goldman Sachs. If you are looking for an entertaining page-turner that describes the high-flying exploits of larger-than-life characters – Michael Lewis style – then you will be disappointed. The strength of this book lies in the author’s ability to describe how the smartest and most talented and ambitious people were transformed by the world’s premier investment bank through its culture and changing market conditions.I found th. Ohhhh Goldman Kindle Customer Even the world's best known and most trusted investment bank could fall prey to greed, and abandon their decades-long history of integrity and honesty. Before and after the 2008 financial crisis, Goldman's culture eroded from doing what was best for its clients to doing what was best for the company's bottom line. Success was measured by how much was generated in commissions rather than building long-term relationships with clients. The story is a classic example of how greed becomes the yardstick by which success is measured an. Excellent Wall Street Tell-All! I loved every chapter of this book and I've recommended to several of my friends, a couple of them are in the financial industry.What's most entertaining was the author describing how difficult the hiring process was, followed by the rigors of working as an intern in this firm; Wall Street's own version of Navy SEAL "Hell Week."