The Zeroes: My Misadventures in the Decade Wall Street Went Insane

Overview

"A delicious, salacious recounting of Wall Street's bloated decade . . . marvelously readable." -BusinessWeek

Randall lane never set out to become a Wall Street power broker. But during the decade he calls the Zeroes, he started a small magazine company that put him near the white-hot center of the biggest boom in history. Almost by accident, a man who drove a beat-up Subaru and lived in a rented walk-up became the go-to guy for big shots with ...

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Overview

"A delicious, salacious recounting of Wall Street's bloated decade . . . marvelously readable." -BusinessWeek

Randall lane never set out to become a Wall Street power broker. But during the decade he calls the Zeroes, he started a small magazine company that put him near the white-hot center of the biggest boom in history. Almost by accident, a man who drove a beat-up Subaru and lived in a rented walk-up became the go-to guy for big shots with nine-figure incomes.

Lane's saga began with a simple idea: a glossy magazine exclusively for and about traders, which would treat them like rock stars and entice them to splurge on luxury goods. Trader Monthly was an instant hit around the world. To accelerate the buzz, Lane's staff threw parties featuring celebrities, premium steaks, cigars, and top- shelf vodka. Before long, Wall Street's rich and powerful trusted Lane as a fellow insider-the guy who could turn an anonymous trader into a cover model and media darling.

When the crash hit, lane's company and life savings were destroyed. But he walked away with something more lasting: an incredible true story.

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What People Are Saying

From the Publisher
"Captivating...the perfect prism to view the larger picture of what was happening across the financial canvas during those sky's-the-limit years."
-USA Today

"An extremely well-written book, a hard-to-put-down cocktail of small business mishaps and gigantic Wall Street egos."
-Forbes

"A circle of characters that could have come straight out of a potboiler...vivid."
-Bloomberg

"Great book!"
-Joe Scarborough, "Morning Joe"

"If a hustling Candide had told the story of the Great Wall Street Meltdown, it might read something like this book."
-The Wall Street Journal

"Anyone who wants to understand Wall Street's insanity should read this book."
-MarketWatch

"A delicious, salacious recounting of Wall Street's bloated decade ...marvelously readable."
-BusinessWeek

"Lane makes no excuses for the era. But the color he extracts makes for lively beach reading."
-Fortune

"A remarkable story."
-Forbes.com

"Entertaining."
-The Financial Times

"What Michael Lewis did for '80s traders in Liar's Poker, Randall Lane has now done for trader rock stars of The Zeroes. You will be stunned by the craziness and cautioned by the consequences."
-Jack Covert, 800-CEO-Read

"The stuff of sublime farce that could happen only in a time and place "when the obscene becomes normal," as Lane observes.
-Graydon Carter, Vanity Fair

"Absolutely brilliant."
-Tina Brown

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Product Details

  • ISBN-13: 9781591844372
  • Publisher: Penguin Group (USA) Incorporated
  • Publication date: 8/30/2011
  • Pages: 368
  • Sales rank: 970,855
  • Product dimensions: 5.40 (w) x 8.40 (h) x 1.00 (d)

Meet the Author

Randall Lane is a journalist and entrepreneur. As CEO and editor in chief of Doubledown Media, he founded or relaunched six magazines, including Trader Monthly, Dealmaker, and Private Air. A National Magazine Award finalist, he has written for The New York Times, The Wall Street Journal, and Slate. He is currently editor at large at The Daily Beast. He lives in New York City.

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Table of Contents

Prologue 1

Part I Fever : 2001-2006

1 See It,Make It,Spend It (2001-2004) 9

2 Starmakers (2005) 37

3 The Jealousy Machine (2005) 59

4 Doubling Down (2005) 83

5 Dealmaker (2006) 106

Part 2 Mania: 2006-2008

6 We Want Your Money (Lace 2006-Mid-2007) 137

7 The Blank Check (2007) 161

8 Fight Night (Mid-2007-Late 2007) 186

9 Nails (Late 2007-Early 2008) 211

10 Maxed Out (Early 2008) 239

Part 3 Reckoning: 2008-2009

11 Leverage (Mid-2008) 265

12 The Party's Over (Late 2008-Early 2009) 296

13 See It, Spend It, End It (2009) 329

Afterword 343

Acknowledgments 347

Index 350

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Customer Reviews

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Sort by: Showing 1 – 12 of 11 Customer Reviews
  • Posted July 5, 2010

    A Book for Everyone

    This is a great book for everyone. You don't need to be an "insider" to enjoy "The Zeroes", and more importantly, you don't need to be an "insider" to absorb the lessons/warnings contained within "The Zeroes". While the book is cataloged under industries it is so much more than a "business book". This is a multi-layered book that has:

    . Many shocking stories that read almost like one of Aesop Fables; a little incredible, a little funny and always entertaining. Lane's writing is upbeat, fun to read, a page turner. Some of the stories include people off Who's Who lists from all different areas of life; Al Gore, John McCain, John Travolta, Martha Stewart, Lenny Dykstra, T. Boone Pickens, etc..

    . Some background information on how Wall Street works; investment banking, hedge funds, private equity.. This was informative and at the right level of detail for the Wall Street "outsider" to understand. Gives a better understanding of what is wrong (and what is right) with Wall Street. Highlights how the way people are incented/compensated can lead to incredible risky decisions that can cripple a company and possible an economy. And the scary thing, this isn't the illegal Bernie Madoff stuff, this is the everyday operating norm for Wall Street compensation. Scarier still, is that it very probably hasn't been fixed.

    . A first person account of the "zeroes" from what I have to believe is one of the most unique perspectives ever to memorialize a specific period in Wall Street's history. Sure, there have been journalists to chronicle Wall Street stories, but I can't think of an author that was so specifically attuned to the excesses of Wall Street at a time when Wall Street was so flush with excess cash.

    . A story of personal growth; the hurdles, the "successes", the "failures" and ultimately the remembrance that success and failure is defined from within and not by the outside even by Wall Street millionaires. Ultimately, this is a human story.

    I hope this book catches lightning. It is a great read, but more importantly it explains what went wrong with Wall Street in layman's terms so everyone can understand. To me, this of great importance since as the saying goes (using some editorial license) "those that don't understand the past, are doomed to repeat it". I don't think we have a good understanding of went wrong with Wall Street and I have the feeling we haven't fixed it, so I hope this book will keep that debate going.

    2 out of 2 people found this review helpful.

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  • Posted July 7, 2010

    Should Be A Movie

    I'm shocked at the tales in this tell-all memoir -- colorful and frightful at the same time. Real insider stuff. I can see it unfolding in its awfulness, the way Randall Lane writes it. The best page turner I've had in a long, long time. The scenes are written as if you were there and the ones about Peter Max, John McCain and Lenny Dyskstra are especially vivid and colorful. In fact, so many people besides those on the Street are in here, in really personal ways. Even John Travolta and Martha Stewart!

    1 out of 1 people found this review helpful.

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  • Posted July 30, 2010

    Author seems to be a Bit of a self server

    This seems to be more of a tribute by the author to himself. After going BK in a few publishing ventures this guy writes a book about how everyone else is nuts. The author seemed to have no problem taking millions of dollars in cash and other benefits from investors and clients and then squandering it with no mention of his own mismanagement of the funds/venture/situation. I suspect the author wants to cash in on his own incompetence by writing this. Also obvious the author leveraged his magazine/publishing contacts to promote this book that would otherwise be lost in obscurity. The book slams people who have contributed art/entertainment etc. to society while placing the author on some sort of higher ground.

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  • Anonymous

    Posted June 30, 2010

    regardless of the content

    randall lane is a liar and a crook. that he should be speaking as an insider is a joke. he pretended to be a publisher - and stole other peoples magazines along the way. He bankrupted owing over 250 people money - many of which were magazine owners that he "bought" their magazines from and never had any intention of every paying. dont buy the book because it just lines the pockets of a crook.

    0 out of 2 people found this review helpful.

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    Posted June 26, 2011

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