“My mentoring session with Andre was extremely valuable and gave me the clarity and direction I needed at an important stage of my application journey. He was kind, approachable, and generous with his time, creating an atmosphere in which I felt comfortable sharing my experiences, asking questions, and discussing my doubts openly.
One of the most helpful aspects of our conversation was his guidance on how to organize and communicate my personal story. Andre helped me understand how to connect different experiences into a coherent narrative, identify the elements that matter most, and explain their significance more clearly. His perspective was fundamental in helping me see how to present my background with greater confidence, purpose, and authenticity.
I particularly appreciated his advice on what to avoid. He helped me recognize that including every detail does not necessarily make a story stronger, and that being selective can make a message much more effective. Our discussion gave me a clearer understanding of how to avoid unnecessary repetition, keep my narrative focused, and ensure that each part contributes something meaningful to the overall application.
Andre also provided valuable guidance on how to organize the application process itself. He helped me think more clearly about priorities, how to approach the different components, and how to make the work feel more manageable. Having a clearer structure has made a difference to my mindset: instead of seeing the applications as one overwhelming task, I now feel better equipped to approach them through specific, achievable steps.
Another important takeaway was his advice on how to use the coming days effectively. Our conversation helped me understand where to focus my energy, which tasks deserve immediate attention, and how to establish a realistic plan. I left the session with a stronger sense of direction and a better understanding of how to balance thoughtful preparation with consistent progress.
What made the experience positive was the combination of practical guidance and encouragement. Andre offered suggestions in a considerate and constructive way, helping me reflect on my choices while also making me feel supported. His kindness made it easier to engage honestly with the process and to see areas for improvement as opportunities to strengthen my applications.
Overall, this session was fundamental in helping me understand both what I want to communicate and how to move forward. I now have a clearer approach to telling my story, organizing my applications, avoiding common mistakes, and planning the next few days with intention.
I am very grateful for Andre’s support and for the care he brought to our conversation. His advice gave me useful tools, renewed confidence, and a more focused approach to the work ahead. I would highly recommend a session with him to anyone seeking thoughtful guidance, practical direction, and a supportive space to develop their application narrative. The session helped me turn uncertainty into a clearer plan, and I feel much more prepared to make the most of the time ahead and present my experiences in a meaningful and convincing way.”
The ABS markets, specifically Mortgage Backed (MBS), exploded in the mid 80s. It was just the hot sector at the time as securitization grew at an exponential pace. Keep in mind that Lewis hasn't worked on the street in 25 years.
Not only did MBS explode in the 80's but also it was a time of stubornly high interest rates. So bond bankers were making a killing because any release had to be 15% plus higher than what was needed due to interest rates. (the 15% is a conservative number I am not sure what corporate rates were back in this time)
Securitized Products made some much money back in the 80's because of demand and a lack of transparency which is common when you are building a new market from the ground up. It was a different market dominated by Salomon Brothers, the other IB banks weren't nearly as strong (as you read in Liar's Poker).
IB is better on a resume only when you want to do something besides banking. People who get into trading plan on staying with trading/markets related position for their career. A trader can't go get a VP at a F500 company; a banker can.
Did you even read the book? Half the book is about the answer to your question...
Lewis didn't directly make fun of bankers. He basically said that traders saw bankers as pussies because of their relatively genteel behavior. On the other hand, traders (in particular the mortgage traders) were seen as uneducated, gluttons by bankers. The mortgage bond trading department was the most profitable in Salomon Brothers because Lewis Ranieri was considered to be the pioneer of securitized mortgage trading. Some journalists even blame him for the current credit crisis, which is commonly accepted to be started from housing.
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