Doesn't this guy post on this website?
Recently, our nation’s financial chieftains have been feeling a little unloved. Venture capitalists are comparing the persecution of the rich to the plight of Jews at Kristallnacht, Wall Street titans are saying that they’re sick of being beaten up, and this week, a billionaire investor, Wilbur Ross, proclaimed that “the 1 percent is being picked on for political reasons.”Ross's statement seemed particularly odd, because two years ago, I met Ross at an event that might single-handedly explain why the rest of the country still hates financial tycoons – the annual black-tie induction ceremony of a secret Wall Street fraternity called Kappa Beta Phi.
“Good evening, Exalted High Council, former Grand Swipes, Grand Swipes-in-waiting, fellow Wall Street Kappas, Kappas from the Spring Street and Montgomery Street chapters, and worthless neophytes!”
It was January 2012, and Ross, wearing a tuxedo and purple velvet moccasins embroidered with the fraternity’s Greek letters, was standing at the dais of the St. Regis Hotel ballroom, welcoming a crowd of two hundred wealthy and famous Wall Street figures to the Kappa Beta Phi dinner. Ross, the leader (or “Grand Swipe”) of the fraternity, was preparing to invite 21 new members — “neophytes,” as the group called them — to join its exclusive ranks.
Source:
http://nymag.com/daily/intelligencer/2014/02/i-crashed-a-wall-street-secret-society.html
Yeah, he started a couple of yellow-journalistic threads.
How do I sign up?
talk about a night well spent
he's doing a live q&a on here tomorrow 3-5pm et
@AndyLouis - I'm not all that enamored with the prospect of him receiving additional publicity and front page attention which will likely serve as a sounding board to further marketing efforts in support of his poorly researched, poorly written book, but maybe this will get interesting. Hoping members of the community don't pull any punches. Would be very interested to hear commentary on how, after 3 years of "in-depth research" he came away with such a fundamental mischaracterization of the industry and those who work diligently to support its functionality.
http://nypost.com/2014/02/17/the-new-caste-of-wall-street-bankers-under…
Good stuff Kev
He just posted a buzzfeed article yesterday that did little more than state the obvious about banking as an analyst.
I remember this guy was at one WSO Happy Hour. Never know what he might overhear and publish.
@ITF you should ban this guy from ever attending a WSO HH.
Pretty sure there isn't much to hear at a WSO HH worth publishing
Do you think there was anything worth hearing at the Kappa Beta Phi meeting? Or was that just low-hanging fruit for a journalist? I'm no journalist and definitely not a writer, but imagine this:
"A throng of college students poured in to the event hall for their yearly conference. An induction ceremony privatized to feed off the sheer willpower of each individual to succeed in an industry that will inevitably spit them back out as wealthy bankers or middle-aged burnouts. I asked a young man about his suit, and he beamed about how expensive the getup was."
Translation: a bunch of kids looking for jobs when they graduate go to conference to get the Rosenbaum book and meet some people over drinks. One unsuspecting freshman answered the weird question about his suit with "I got this at Century 21."
If I saw this guy at a HH I'd flip.
lol he came to a wso hh? seriously?
Here is proof:
https://www.facebook.com/WallStreetOasis/photos/a.10150388494597516.445…
He's got an article on Business Insider from the Atlantic about the same topic. Promoting his book hardcore. Why is he getting so much attention? Nobody gives a fuck what this parrot thinks.
I've met the guy before (he actually moderated a panel at the first WSO Conference) and he's a good dude. He's pretty straight-laced when it comes to how he covers the industry and doesn't think bankers are all a bunch of thieves and thugs.
Some of the knee-jerk reactions in here are over the top. Have some thicker skin, folks, there are way worse guys out there trashing the industry.
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