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A monumental battle is raging in the ever-shifting, always tumultuous world of Wall Street. The Battle for Wall Street follows the struggle for power between two giants: the sellers, traditional commercial and investment banks; and the buyers, upstart hedge funds, private equity firms, and the like.
Richard Goldberg—who has spent thirty years working with financial industry leaders—gives you a detailed understanding of what is going on in this dynamic arena and the forces behind the shift of power from the old sell-side gatekeepers to the new buy-side players.
The Battle for Wall Street examines the instruments of change—liquidity and financial technology—and the agents of change: hedge funds, private equity, financial entrepreneurs, endowments, exchanges, and sovereign wealth funds. Even more importantly, it outlines the strategic implications for the winners and losers. Goldberg describes all this against the dramatic backdrop of the subprime mortgage and credit crisis and the resulting capitulation of global firms such as Bear Stearns and Lehman Brothers.
Goldberg's unique access to major players brings this book to life with fascinating anecdotes and stories about the financial generals who have left their mark in the battle for Wall Street.
Introduction: Let the Battle for Wall Street Begin.
Part One: Instruments of Change.
Chapter 1 Sea of Liquidity.
Chapter 2 Financial Information in a Digital Age.
Chapter 3 Prime Brokerage Meeting Hall.
Part Two: Agents of Change.
Chapter 4 Hedge Funds: Buy-Side Player, Sell-Side Foe.
Chapter 5 Private Equity: Buy-Side Player, Sell-Side Friend.
Chapter 6 Entrepreneurs to Endowments: Buy-side Catalysts.
Chapter 7 Exchanges: Sell-Side Voice, Buy-Side Electronics.
Chapter 8 Sovereign Wealth Funds: Sell Side Today, Buy Side Tomorrow.
Part Three: Implications of Change.
Chapter 9 Sell-Side Casualties, Buy-Side Implications.
Chapter 10 Buy-Side Casualties, Sell-Side Implications.
Chapter 11 Regulatory Implications.
Chapter 12 Future Implications.
Notes.
About the Author.
Index.
ddimov
Posted May 1, 2009
If you want to learn about the current financial crisis and what led to it, this is your book. The author does a great job in presenting the major events and players that set the stage for this huge mess. I highly recommend it!
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Overview
A monumental battle is raging in the ever-shifting, always tumultuous world of Wall Street. The Battle for Wall Street follows the struggle for power between two giants: the sellers, traditional commercial and investment banks; and the buyers, upstart hedge funds, private equity firms, and the like.
Richard Goldberg—who has spent thirty years working with financial industry ...