Text Why I left Goldman Sachs

Why I left Goldman Sachs Book ´ 380 pages Download ✓ Dogsalonbristol í ➹ [Download] ➵ Why I left Goldman Sachs By Greg Smith ➼ – Dogsalonbristol.co.uk An insightful and devastating account of how Wall Street lost its way from an insider who experienced the culture of GolFt off His story begins in the summer of when I left Goldman PDF #204 an idealistic year old arrives as an intern at Goldman Sachs and learns about the firm's Business Principle Our clients' interests always come first This remains Smith's mantra as he rises from intern to analyst to sales trader with clients controlling assets of than a trillion dollars From the shenanigans of his summer internship during the technology bubble to Las Vegas hot tubs and the excesses of the real estate boom from the career lifeline he received from an NFL Hall of Famer during the bear market to the day Warren Buffett came to save Goldman Sachs from extinction Smith will take the reader on his personal journey through the firm and bring us inside the world's most powerful bank Smith describes in p While this is a story of a young man’s career in finance it is also documentation of change in organizational culture in a premier American institution It may be a representation of what happened on Wall Street in a brief 12 yearsGreg Smith had served as a GS intern and was thrilled to be among those selected for employment He described the extensive training program the long days the Open Meetings his peer group the dress code and licensing tests how he took his on Sept 11 2001 Smith recognized how his mentors conveyed GS’s Number 1 Principle the client come first He was proud of Goldman its mission its research capabilities and the long term relationships it nurturedThrough the description of his experience you learn how things work at Goldman about trading the hierarchy the international reach the career paths and the personalities of traders VPs partners and “uants” He clearly describes complex financial instruments how the hand signals work in the Chicago futures markets how clients are courted and ranked and how mentors are found He describes his life which may be typical of the life of a young and rising financial professional He hunts apartments dates and almost marries connects and reconnects with friends from college; he has family ties in the US and abroad2008 was a bad year for financial markets Risk takers had essentially destroyed their own firms Bear Stearns Lehman Brothers Merrill Lynch and clients wanted to know if Goldman was next Trading wasn’t as lucrative and the pressure was enormous As layoffs began GS managers and traders sought work In stable sectors of the company leaving others behind and some out of a job Those who produced became prominent than those who put the client first Smith shows how the firm began selling junk and trading against long term clients Everyone was looking for the “elephant trade” yielding 1 million for GS and sometimes that reuires selling out a GS client a pension fund sovereign wealth fund a bank or a wealthy individual which has wide spread effects bank clients retirees and future retirees Greece US mortgage holders etc Smith shows how this affected the people who remained at GS whom he had known over the years Some embraced the golden goose others who preferred the former culture went along Not too many stepped outside like Greg SmithHe takes you through GS's Henry Paulson as Treasury Secretary the hearings the bailouts the minimal fine and the the GS internal reviewIf you have an important story to tell and wonder how to get it into the New York Times Smith shows you how to do it This is a epic in and of itselfThe book is substantive and readable Because this it defines an era like no other piece of writing I know of it may become a classic