Customer Reviews

Damn, it Feels Good to Be a Banker: And Other Baller Things You Only Get to Say If You Work On Wall Street

5 star:		(9)
4 star:		(2)
3 star:		(4)
2 star:		(1)
1 star:		(2)

 

 

I pity poor old "Leveraged Sellout", which would be the most wounding thing one could do to him ("one" being a person not blessed enough to work in front office advisory M&A at a bulge bracket investment bank), but only for his timing. After the events of September 2008 it's going to be a while before anyone preens about working in a Bulge Bracket investment bank on Wall Street. At this point (still in September 2008) there are only two left, one (Morgan Stanley) looking likely to go the way of all flesh in coming days (horror of all horrors courtesy of *Wachovia*!), and the last man standing, Messrs. Goldman, Sachs & Co, facing a very uncertain road ahead as an independent investment bank no matter how excellent its risk management, deal execution and intellectual capital may be.

So I pity the anonymous "Leveraged Sellout" simply because, as a result of his timing, this excellent and brutally funny little book will either disappear into the same gaping void that claimed Bear Stears, Merrill Lynch, AIG and Lehman Brothers or, worse, be held up by moronic lefties as a poster child for everything that was wrong with Wall Street.

It is no such thing. It's actually a riot - imagine a young Hunter Thompson or Tom Wolfe writing with verve about modern day Wall Street but not as an outsider or an ingenue, but fully steeped in the technical and cultural world of a 24 year-old master of the universe.

I have no doubt that whoever wrote this was a genuine insider - the observations and devastatingly funny sending up of the minutiae (such as the distinction between IBD and FICC and importance of never using your mouse when manipulating a spreadsheet) would never be apparent to an outsider who hadn't done a significant stretch. I spent 7 years at a bulge bracket bank myself (as a lowly inhouse lawyer, resolutely in unglamorous back office), and but for the inevitable comic hyperbole, Damn It Feels Good To Be A Banker rings very true. I loved every moment.

So it's kind of a historical document, even though it is pure satire. It captures the zeitgeist, circa August 2008, and if you've had any interaction with the IB fraternity in their prime - that is, before the Sub-Prime got them, you'll find this hysterically funny.

Olly Buxton

I'm still trying to discern what the funniest aspect of this book is. Is it the blatant elitism/classicsm? Perhaps. Is it Wall Street's misogyny and generalizations of foreigners? There's definitely something there. Perhaps its LSO's ability to apply banker-speak and concepts to everyday life? That plays a role no doubt. Or maybe it's simply everything about the LSO including the aforementioned plus utter disregard for anything below investment bankers (just about everything), complete with a hilariously satirical glorification of their larger-than-life existences. Bingo.

This really is the most prestigious book ever written.

This is a pretty funny book trying to describe the life of young investment bankers with big egos and immaturity as they grow up in NY working hard and playing hard. Maybe this guy is too cocky and really meant all this. Maybe he's just giving you a peek at the life. But it's enjoyable but not to be taken too seriously.

Unfortunately, while the guy describes the appropriate path to the buy side and ultimate wealth he really overstates his position. Young investment bankers are tools to work massive hours propping up the real bankers with the math so the real bankers can advise on the deals. MAYBE these young bankers will grow into real bankers but eventually he will lose the attitude or doubtful he will make it.

The book is a relic as I-Banking is dying on the vine as we speak. Still, an entertaining book of the life of young bankers. Cocky? Yes. Talented? Sure. But there is much more to it than that.

Probably the funniest book I've ever read, even better than the blog. I read it cover-to-cover in one sitting. Twice as funny if you work in finance and know a lot about the industry, but nonetheless hilarious for anyone who isn't easily offended or can take a joke.

Having been a massive fan of the website the book was always going to be great fun! The guy who wrote it clearly got bullied at school..

I am in no way offended by elitist or snobbish humor, in fact, I love it. However, this book is simply not that funny. It has one really good leper joke but that is all. The narrative is loose and the chapters drone on forever. If you loved Monkey Business, this book bears no resemblance, beware!

If you've got a granddaughter or grandson ready to go into the world of international finance, you really should buy this book for your loved one. It describes the humility, passion and sacrifice that everyone in this profession makes in order to help make the world a better place for all of us ! Really don't know what Main Street keeps complaining about.

This book has some good selected moments, however, I would recommend Monkey Business: Swinging Through the Wall Street Jungle instead. It is consistently funnier and more accurate, painting a truer version of what it's really like to be a junior banker.

This book is absolutely hilarious, every chapter is gold! You have to take everything this guy is saying with a grain of salt, the author is actually not a banker but lived with a bunch of them so it is very satirical, but hysterical nonetheless. It is impossible to put down. It will have you laughing from start to finish!

I picked up this book looking to garner additional insight into the world of investment banking. Unfortunately, the book is less informative than it is humorous. A very quick, light read for people completely unfamiliar with banking. If, however, you've read any other book, Monkey Business, Liar's Poker, Accidental Investment Banker, you will find no new information from this book.