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Editorial Reviews
Amazon.com Review
Goldman Sachs brings you inside the rarefied boardrooms of one of the most secretive Wall Street banking giants. Begun by a German immigrant in the late 1800s as a small family-run business, Goldman Sachs rose to become the world's top investment bank in the 1990s, even without selling stock to the public. It attracted some of the best talent in the business and cultivated an image of superiority and exclusivity. "The Goldman Sachs mystique was born of secrecy and success. Nothing like it exists on Wall Street," writes the author, Lisa Endlich, a former vice president at the firm. But behind that mystique lie tales of being swindled by British media tycoon Robert Maxwell, multimillion-dollar losses on bad trades, and the on-again, off-again attempts to go public. The book begins and ends with the firm's efforts to go public and get greater access to capital. Most other brokerages are already publicly traded, but internecine conflict and financial turmoil always seem to prevent Goldman from joining the action. In September 1998, for instance, Goldman stunned investors when it dropped plans for a stock offering amid a plunge in the market. A management shakeup soon followed. Goldman Sachs is an intriguing history of the company that invented such financial tools as block trading, commercial paper, and risk arbitrage. The book can sometimes be critical, but is largely a favorable portrait by a former employee. --Dan Ring
--This text refers to an out of print or unavailable edition of this title.
From Publishers Weekly
Goldman Sachs, in most years the most profitable investment bank in the country, also holds the distinction of being the last major partnership among investment banks on Wall Street with partners earning tens of millions of dollars. In workmanlike prose, former Goldman v-p Endlich traces the bumpy road the company took from its founding in 1885 to its current status as a leader in the financial world. She dutifully reports the major developments in the company's history, such as the rise of Sidney Weinberg, who led Goldman from 1930 to 1969, a period during which the company overcame a tarnished reputation and became a financial powerhouse. The most interesting section of the book deals with the infamous British media tycoon Robert Maxwell and Goldman's role as his principal financial adviser: although the firm was exonerated of any illegal activity with Maxwell and his companies, it took three years to settle the various lawsuits filed against the company. Endlich is the victim of bad timing: her lively account of Goldman management's decision to take the company public in the summer of 1998 is rendered somewhat moot by the fact that those plans were derailed by the sudden (and so far brief) bear market. And although Endlich predicts that Goldman management might revive the IPO under the right market conditions, Goldman suffered one of its worst quarters for the period ended November 30 when profits fell 81%. Photos not seen by PW. Agent, Gerri Thoma at the Elaine Markson Agency. Foreign rights sold in the U.K., Germany, Japan and Korea.
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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Inside This Book
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First Sentence:
ON WEDNESDAY MORNING, OCTOBER 15, 1986, John L. Weinberg, the venerable senior partner of Goldman Sachs, had a long list of phone calls to make. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
fellow management committee members, one current partner, fixed income department, more senior partners, partnership class, newest partners, entire partnership, proprietary traders, investment banking division, block trading, partnership committees, other investment banks, commodities division, risk arbitrage, pension trustees, banking partners, partnership capital, times book value, underwriting business, proprietary trading, banking side, principal investments, investment banking services Key Phrases - Capitalized Phrases (CAPs): (learn more)
Goldman Sachs, Wall Street, New York, Sidney Weinberg, Salomon Brothers, John Weinberg, Morgan Stanley, United States, Bank of England, Gus Levy, Henry Goldman, John Whitehead, Lehman Brothers, Robert Maxwell, Steve Friedman, Merrill Lynch, Sam Sachs, Federal Reserve, Bob Rubin, Penn Central, Walter Sachs, Jon Corzine, Marcus Goldman, World War, First Boston New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
ON WEDNESDAY MORNING, OCTOBER 15, 1986, John L. Weinberg, the venerable senior partner of Goldman Sachs, had a long list of phone calls to make. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
fellow management committee members, one current partner, fixed income department, more senior partners, partnership class, newest partners, entire partnership, proprietary traders, investment banking division, block trading, partnership committees, other investment banks, commodities division, risk arbitrage, pension trustees, banking partners, partnership capital, times book value, underwriting business, proprietary trading, banking side, principal investments, investment banking services Key Phrases - Capitalized Phrases (CAPs): (learn more)
Goldman Sachs, Wall Street, New York, Sidney Weinberg, Salomon Brothers, John Weinberg, Morgan Stanley, United States, Bank of England, Gus Levy, Henry Goldman, John Whitehead, Lehman Brothers, Robert Maxwell, Steve Friedman, Merrill Lynch, Sam Sachs, Federal Reserve, Bob Rubin, Penn Central, Walter Sachs, Jon Corzine, Marcus Goldman, World War, First Boston New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 31
books:
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21
books
cite this book:
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- Den of Thieves by James B. Stewart on page 115, page 119, and Back Matter
- Great Crash by John Kenneth Galbraith on page 45, Back Matter (1), and Back Matter (2)
- Our Crowd by Stephen Birmingham in Back Matter (1), and Back Matter (2)
- Greed and Glory on Wall Street: The Fall of the House of Lehman by Ken Auletta in Back Matter (1), and Back Matter (2)
- Bloomberg by Bloomberg by Michael R. Bloomberg in Back Matter (1), and Back Matter (2)
See all 31 books this book cites
- Eat What You Kill: The Fall of a Wall Street Lawyer by Milton C Regan Jr. in Back Matter (1), Back Matter (2), and Back Matter (3)
- Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets by Steven Drobny on page 76, and Back Matter
- Sharing Executive Power: Roles and Relationships at the Top by José Luis Alvarez in Back Matter
- Leading Leaders: How to Manage Smart, Talented, Rich, and Powerful People by Jeswald W. Salacuse on page 88
- Deals of the Century: Wall Street, Mergers, and the Making of Modern America by Charles R. Geisst in Back Matter
See all 21 books citing this book
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