Wall Street Broker's Cold Calling & Rebuttal Manual
buzzfeed"BuzzFeed obtained both that script, used by brokers of every level at the 200-employee firm (JTF), as well as another script known internally as the “Golden Pitchbook,” which is given only to a privileged few senior brokers at the firm. Considered a performance reward for top brokers, the “Golden Pitchbook” is handed down from their mentors at the firm who have also received the elusive tome, the source said.
“It’s secret, privileged information,” said the source. “Some people at the firm don’t even know about it.”The book’s origins date to the 1980s at Bear Stearns, and it has gone through various iterations on its journey into the hands of the lucky JTF broker who, after impressing superiors, is walked down the street to a Kinkos, where senior brokers supervise the book’s copying and hand-off.
“It’s a reward for senior brokers to give to junior brokers on their team as an investment in them,” the source said. “Once they had it, they used it all the time.”
http://www.buzzfeed.com/mariahsummers/exclusive-secrets-from-the-sexist-pitchbook-of-one-of-wall-s
I found this to be interesting. Anyone have a copy of this script? Or the Lehman Brothers script? I would like to download a PDF or something.
“It’s secret, privileged information..."
Isn't it in the very link you posted?
LOL!!
It seems to not be so secret anymore. There's PDF's floating around all over the web if you look around.
Cold Call Rebuttals (Originally Posted: 05/02/2013)
I've been cold calling my butt of to boutiques, etc. But I sometimes struggle to come up with good enough rebuttals. For instance, one MD told me that because of SEC rules and confidentiality agreements, they can't have interns? What would be a good rebuttal for that reason for instance. Another one I've heard is that business is "slow." Any suggestions? I'm not the most talented public speaker as you can see :)
Think of the underlying reason why they are making the rebuttals. Subtext for the second rebuttal: since business is slow, we don't want to pay you to just sit around. But what if business picks up? Say that you will intern unpaid at the office until deal flow picks up, because they might actually want an intern when that happens. Get creative.
xoxo
Don't say anything just thank them for the conversation.
Avoid turning networking calls with MDs into platforms for debate on their hiring practices... if they don't want interns, they don't want interns.
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