so what exactly was kidder peabody comparable to in today's banks? i know it wasn't bulge bracket but still pretty respected? what about banker's trust and first boston's reputations?
thanks a lot because i stalked some of my vp's and md's who came from these backgrounds at a BB i'm interning at this summer and wouuld like to know how prestigious these banks were.
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haha stop being a tool.
Dead? More like acquired...
First Boston was acquired by Credit Suisse and Banker's Trust was acquired by Deutsche Bank.
Kidder was acquired by Paine Webber which later became UBS.
I can't speak about Banker's Trust, but Kidder Peabody and First Boston were both legit investment banks. First Boston was a BB in the 80's before being acquired by CS; FB was acquired after it took a huge hit when the junk bond market collapsed in 1990. Kidder had been around for at least a hundred years and was a well respected bank. They were global and had offices/operations in Asia and Europe. They were not the size and scope of the BB today, but back in the early 90's no one was the size they are today (the major consolidation began in the late 80's-early 90's). Kidder was acquired by PainWebber after a rogue trader, Joe Jett, caused 350 million in losses. PainWebber was acquired by UBS.
On a side note, it does not matter where you have come from, only where you are today and where you will be tomorrow. Plenty of people have come from "lesser banks" and are very well respected/super successful today.
If this is a serious question, I can give you a serious answer. I'm probably the only guy on this site who was around back then.
They were all well respected. First Boston was a monster in the IPO market for awhile. Kidder Peabody was 2nd tier, like Smith Barney, Prudential (not such a great rep after ripping off clients in the late '80s), and Dean Witter. You guys might laugh, but Piper Jaffray even had some credibility back then.
But the guys who were the talk of the town were Blinder Robinson. Penny stock hucksters extraordinaire, these guys were pulling down 700-800k a year calling the Boca Raton white pages. You freaks couldn't hold a candle to this fuckin' crew:
Thank God for YouTube. Man that shit takes me back.
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Well, what can be said about Drexel that isn't already Wall Street legend? They were pretty much nobodies until Milken's crew threw up numbers that had literally never been seen before. The potent combination of Michael Milken paying himself $550 million in a year and the movie Wall Street coming out at about the same time was all it took to convince me that the Street was where I belonged.
DLJ was a group of mid-market earners. Nothing really special about them.
As for Goldman, they weren't the powerhouse that they are today, but it was still pretty nice to have them as a syndicate partner on one of your tombstones.
Thanks Edmundo, that was one of the best videos I've ever seen. That's when men were still men. Made my weekend.
+1
Is it just me or does everyone in that video look like Paul McCulley from PIMCO?
I always thought kidder peabody was 2nd tier?
Didn't one of the authors of Monkey Business work at KP before he joined DLJ
Yes, Troob was a KP analyst before he went to HBS.
although I dont know this personally, but I thought DLJ was pretty good back in the days? I heard stories about DLJ from my former boss and people who worked there before.
bankers trust was horrible
Those banks were extremely prestigious. Therefore, please recommence ass-kissing immediately.
curious what the leagues were back then. for trivious curiousity purposes.
Bumping this thread just to say that this video posted by Eddie is absolutely EPIC Would have loved so much to be a billionaire baller with a moustache and a white suit in the 80s We truly live in the worst time possible for MEN now
Geez, so funny to see Meyer and Sandy and Bob so soon after writing about them in the book. Absolutely surreal time in the market.
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