As the title suggests, I want us to talk about this book. I have yet to break in the industry, however, I'm starting to get IB interviews and preparing for the SIE while pursuing a commercial banking gig.
How real is the garbage they talk about in Monkey Business: Swinging Theough the Wall Street Jungle? I have no illusion that the industry certainly employs a fair share of sleaze bags, but the authors also seem to be high on their own delusions. They had something like 2 year associate stints and talk about the high life in IB while at a boutique that got acquired by CS, but on the same page they mention drinking Jack Daniel's in some club like that's some impressive feat. I'm sorry, but even Gentleman Jack doesn't actually hold a candle to a decent bottle of cognac or wine and I'm not talking about Louis XIII or Chateau Lafite Rothschild either. Nowadays (about two decades later, yes), even a decent bottle of Japanese whiskey or gin beats that out of the water.
But anyway, I've digressed. How serious are they in the claims made in this book and are these claims even remotely true on a general basis? I've reached the valuation chapter and it's rather disheartening and disappointing.
Bumpity bump bump
Keep in mind these authors did their associate stints in the early 90’s. A lot has changed within the industry in ~30 years.
Yeah, I figured things must have changed at least somewhat, but I reckon the industry didn't do an entire makeover. They must be exaggerating, even for early 90s standards, no?
Read Discussion Materials by Bill Keenan, much more up to date
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