Tag Archives: wall street

HBCU Money™ Business Book Feature – Panic on Wall Street: A History of America’s Financial Disasters


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From the Publisher

Here is a book dealing with a subject endemic to many Eastern and Western countries — financial panic. Covering 12 of the most harrowing moments in American financial history from 1792 to 1962, it demonstrates that Wall Street and the public are at once the heroes, villains, and victims of past panics.

From the Inside Flap

… The episodes depicted were dramatic, had an impact on Americans of the time, and have generally been neglected by other financial historians. Some of the most notable are the Western Blizzard of 1857, the Great Crash of 1929, and the Kennedy Slide of 1962. Not all were catalysts for depressions, but they illustrate the complexity of such events and that the causes are varied: political, military, economic, and even psychological. This book is fascinating reading for anyone who fears that we could suffer through another financial panic.

HBCU Money™ Business Book Feature – The Wall Street MBA


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You don’t need an MBA to master corporate finance

“Finally, the book which may put Harvard Business School out of business. A must-read for all professionals who seek strong financial expertise.”
—Rick Rickertsen, Managing Partner, Pine Creek Partners; author of Buyout

“Terrific overview of corporate finance and accounting that even the nonfinancial professional will find useful.”
—Ken Glazer, former Senior Competition Counsel, The Coca-Cola Company

The Wall Street MBA distills a broad swath of corporate finance and financial reporting concepts into a concise, practical, and easily accessible format.”
—Robert Borghese, lecturer, The Wharton School; author of M&A from Planning to Integration

The Wall Street MBA gives you the tools to:

  • Review financial statements
  • Analyze earnings
  • Detect fraud
  • Assess stock prices
  • Value companies
  • Determine the cost of capital

With brand-new chapters on currency trading, real estate valuation, and commodities

HBCU Money™ Business Book Feature – The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess


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The Buy Side, by former Galleon Group trader Turney Duff, portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements.  A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards – and dizzying temptations – of making a living on the Street.

Growing up in the 1980’s Turney Duff was your average kid from Kennebunk, Maine, eager to expand his horizons. After trying – and failing – to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits.  Those on the “buy side,” the traders who make large bets on whether a stock will rise or fall, are the “alphas” and those on the “sell side,” the brokers who handle their business, are eager to please.

How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam.  Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible.  Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits.  Naïve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in sometimes mysterious ways.

At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights – and, as it turned out, plummeted to even lower depths – as, by day, he solidified his reputation one of the Street’s most powerful healthcare traders, and by night, he blazed a path through the city’s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside.

A mesmerizingly immersive journey through Wall Street’s first millennial decade, and a poignant self portrait by a young man who surely would have destroyed himself were it not for his decision to walk away from a seven-figure annual income, The Buy Side is one of the best coming-of-age-on-the-Street books ever written.

HBCU Money™ Business Book Feature – Liquidated: An Ethnography of Wall Street


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Financial collapses—whether of the junk bond market, the Internet bubble, or the highly leveraged housing market—are often explained as the inevitable result of market cycles: What goes up must come down. In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial markets, and particularly booms and busts, are constructed. Through an in-depth investigation into the everyday experiences and ideologies of Wall Street investment bankers, Ho describes how a financially dominant but highly unstable market system is understood, justified, and produced through the restructuring of corporations and the larger economy.

Ho, who worked at an investment bank herself, argues that bankers’ approaches to financial markets and corporate America are inseparable from the structures and strategies of their workplaces. Her ethnographic analysis of those workplaces is filled with the voices of stressed first-year associates, overworked and alienated analysts, undergraduates eager to be hired, and seasoned managing directors. Recruited from elite universities as “the best and the brightest,” investment bankers are socialized into a world of high risk and high reward. They are paid handsomely, with the understanding that they may be let go at any time. Their workplace culture and networks of privilege create the perception that job insecurity builds character, and employee liquidity results in smart, efficient business. Based on this culture of liquidity and compensation practices tied to profligate deal-making, Wall Street investment bankers reshape corporate America in their own image. Their mission is the creation of shareholder value, but Ho demonstrates that their practices and assumptions often produce crises instead. By connecting the values and actions of investment bankers to the construction of markets and the restructuring of U.S. corporations, Liquidated reveals the particular culture of Wall Street often obscured by triumphalist readings of capitalist globalization.