Items related to Long Term Greedy: The Triumph of Goldman Sachs
What made Goldman Sachs great? How has this firm become an amazingly powerful force in investment banking? Through an analysis of Goldman's responses to its greatest challenges--the 1980s era of junk bonds, corporate raiders, and hostile takeovers in detail--Long-Term Greedy uncovers the principles, traits, and practices that have created this fascinating firm's success. The result is a compelling story and a set of timeless lessons for American business.
The new, second edition of Long-Term Greedy brings the story up to the present time, providing further insight on Goldman actions and showing how the historic practices of Goldman Sachs relate to today's opportunities in investment banking and financial services. A glossary of key financial terms has also been added.
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From Chapter 11: The result of Goldman's methods was more than just winning the leverage war. By virtue of its approach, the firm didn't suffer the baggage of the period such as junk-bond portfolios and unpaid bridge loans. Goldman was able to achieve enormous profitability and grow its capital. The firm maintained its client base and position of trust. Thus as the leverage era ended, Goldman was poised to continue its leadership in M&A advice and to capitalize on new underwriting and trading opportunities.
Review:
This sounds simple. Yet what is astonishing is the extent to which the lure of leveraged-deal fees of the 1980s appeared to cause many other financial firms to neglect the concepts that had made them successful. An analysis of Goldman reveals how the firm stood out in using learned methods and consistent approaches. (It also shows how Goldman's divergences--such as the bridge loan to Southland Corporation--provided rebukes that prompted the firm to return to proven methods.) Thus an important benefit of the analysis is how it relates to the challenges facing Goldman Sachs and financial industries today.
Long-Term Greedy explains remarkable aspects of Wall Street financial techniques--including the humor and irony of some of the wildest of such tactics. -- James A. Cox, Midwest Book Review
From the early days of Marcus Goldman's successful clothing store in Philadelphia to the post-Milken era success, not only is Mr. Lindskoog very good at taking you through Goldman's history but he is also extremely successful at explaining even complex financial transactions in very simple terms. . . . The story flows very smoothly. [Lindskoog] never assumes a preachy textbook tone and succeeds in keeping a good balance between the narrative side and the technical parts. By the end of the book the reader has quite a clear sense of what drove Goldman Sachs to success, of how the company always tried to differentiate itself from the masses. . . . If you want to learn more about THE investment bank or if you are even remotely interested in the finance world, this book is definitely worth your attention. -- The Anderson Exchange, UCLA Graduate School of Management
How did the Wall Street firm of Goldman Sachs rise to power? [Long-Term Greedy] probes the unique tactics used by the firm to prevail in the market in the 1980s junk-bond craze, and prosper afterward. It will find an audience with any who want in-depth information on stock market firms and insider actions. -- Diane C. Donovan, The Bookwatch
From the early days of Marcus Goldman's successful clothing store in Philadelphia to the post-Milken era success, not only is Mr. Lindskoog very good at taking you through Goldman's history but he is also extremely successful at explaining even complex financial transactions in very simple terms. . . . The story flows very smoothly. [Lindskoog] never assumes a preachy textbook tone and succeeds in keeping a good balance between the narrative side and the technical parts. By the end of the book the reader has quite a clear sense of what drove Goldman Sachs to success, of how the company always tried to differentiate itself from the masses. . . . If you want to learn more about THE investment bank or if you are even remotely interested in the finance world, this book is definitely worth your attention. -- The Anderson Exchange, UCLA Graduate School of Management
How did the Wall Street firm of Goldman Sachs rise to power? [Long-Term Greedy] probes the unique tactics used by the firm to prevail in the market in the 1980s junk-bond craze, and prosper afterward. It will find an audience with any who want in-depth information on stock market firms and insider actions. -- Diane C. Donovan, The Bookwatch
"About this title" may belong to another edition of this title.
- PublisherMcCrossen Pub
- Publication date1998
- ISBN 10 0965215334
- ISBN 13 9780965215336
- BindingHardcover
- Edition number1
- Number of pages159
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