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Book: The Accidental Investment Banker: Inside the Decade that Transformed Wall Street :: Robert Kiyosaki|Books :: Book
Date: Thursday, 08 January, 2009 :: 12:36
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The Accidental Investment Banker: Inside the Decade that Transformed Wall Street
List Price: USD $26.00
from USD $6.99
Product Group: book
Manufacturer: Oxford University Press, USA
Format: Bargain Price
Studio: Oxford University Press, USA
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Editorial Review: Product Description
Jonathan A. Knee had a ringside seat during the go-go, boom-and-bust decade and into the 21st century, at the two most prestigious investment banks on Wall Street--Goldman Sachs and Morgan Stanley. In this candid and irreverent insider's account of an industry in free fall, Knee captures an exhilarating era of fabulous deal-making in a free-wheeling Internet economy--and the catastrophe that followed when the bubble burst.
Populated with power players, back stabbers, celebrity bankers, and godzillionaires, here is a vivid account of the dramatic upheaval that took place in investment banking. Indeed, Knee entered an industry that was typified by the motto "first-class business in a first-class way" and saw it transformed in a decade to a free-for-all typified by the acronym IBG, YBG ("I'll be gone, you'll be gone"). Increasingly mercenary bankers signed off on weak deals, knowing they would leave them in the rear-view mirror. Once, investment bankers prospered largely on their success in serving the client, preserving the firm, and protecting the public interest. Now, in the "financial supermarket" era, bankers felt not only that each day might be their last, but that their worth was tied exclusively to how much revenue they generated for the firm on that day--regardless of the source. Today, most young executives feel no loyalty to their firms, and among their clients, Knee finds an unprecedented but understandable level of cynicism and distrust of investment banks.
Brimming with insight into what investment bankers actually do, and told with biting humor and unflinching honesty, The Accidental Investment Banker offers a fascinating glimpse behind the scenes of the most powerful companies on Wall Street.
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Reviews:
Average Customer Review: 
0 of 1 people found the following review helpful:
Summary: An insider's report on investment banking
Date: 2008-10-17 - 
Comment: Whenever there are dramatic upheavals on Wall Street, shock waves ricochet throughout the U.S. and world economies. And, when you say Wall Street, most people think of its storied investment banks - Morgan Stanley, Goldman Sachs, J.P. Morgan Chase. Who built and ran these firms? What makes them tick? How did they fare in the booming 1990s? And what is happening to them (at least, what was happening just before the autumn 2008 crackup). Investment banker Jonathan A. Knee, a Goldman Sachs and Morgan Stanley alumnus, reports on his career and on the investment banking industry. He explains how these firms have changed radically from the days when J.P. Morgan Jr. advised his peers to do "first-class business in a first-class way" to the Wall Street motto of the 1990s, "IBG-YBG" ("I'll be gone, you'll be gone"), meaning, "Who cares what happens long-term regarding the deals we do today?" This shockingly shortsighted viewpoint led to the recent bitter harvest. If you want to understand how Wall Street works - and sometimes doesn't work - getAbstract recommends this informative, insightful and witty book.
Summary: A View of the Investment Banking World
Date: 2008-07-06 -
Comment: The writer did a very good job of explaining from his view what the world
of investment banking is like. He also gives a good perspective of the
changes that have occurred and what should be improved. I was looking for
a good commentary on investment banking including past events that have
occurred. I was very satisfied upon reading the book. The author also provides specific insight into events and culture of two specific investment houses which are fascinating in light of recent events. The
author includes names of real people which lends more credibility to the
book. For the serious student of the investment banking industry, this is
a book to read in addition to others. It does provide an insider's view.
Richard Macomber
Cape Coral, FL
1 of 1 people found the following review helpful:
Summary: Good, not great
Date: 2008-06-19 - 
Comment: This book isn't quite as good as its cover would suggest. You'd be better off getting a copy of Monkey Business, which is hysterical. My greatest frustration with this book is that it is so ridden with typographical errors (which any investment banker past or present will tell you is a HUGE no-no) that it was actually distracting.
I am friends with someone mentioned in Knee's book, and fortunately my friend got off unscathed in Knee's commentary. Unlike many!
Summary: Informational, but a little dry
Date: 2008-03-28 - 
Comment: I did enjoy this book, though perhaps I was expecting a little too much in the way of entertainment factor. There is a very extensive history of Goldman Sachs - to the point that it almost seems the book is focused more on the firm than on telling the story of the author.
The book does serve as a good primer for those that don't really know what investment banking is, and want to get a sense of what Wall Street is like. It does not however, quite live up to the quote on the cover - "a ringside seat to the madcap and often egomaniacal world of wall street's masters of the universe".
This is a good book, but you should also checkout "Monkey Business", "Bank", and "Liar's Poker" for a more light-hearted, but still informational look at investment banking.
1 of 1 people found the following review helpful:
Summary: Superb!
Date: 2008-01-28 -
Comment: A must read for anyone intending to be an investment banker. Details the various personalities around the time circa 1997 - 2002, and surprisingly, the same folk are very much in play during the crisis of 2007/08.
This book sets the stage for the next impending Wall Street recession.
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Goldman Sachs : The Culture of Success
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