Just finished reading Monkey Business: Swinging Through the Wall Street Jungle. I thought it was well written and surprisingly funny. My favorite part was when Rolfe had an epiphany after he beat off at his desk at 3AM during an all nighter. I actually lol'd when I read that. He figured ibanking perhaps wasn't the best career path for him.
Anybody else read this? Any thoughts/favorite parts?
Monkey Business? Never heard of it... What's it about?
I've heard it's quite similar to Jumanji :)
It's about two former DLJ associates and their life during their ~3 years at the firm. They actually wrote the book themselves.
my fav part is when Rolfe ate all that food he was allergic too and then ran out the car and took a big ole SHAT.
Yeah that was hilarious.
Oh wait, never mind, it looks like at least one of you has a sense of humor!
My fav part is when Rolfe and Troob got laid... oh wait!
Anyone ever read Liar's Poker?
Ok, maybe you guys are all really young. But the question should be who HASN'T read Liar's Poker and Monkey Business and why they haven't. Of all the finance books, the above two just mentioned are the MOST read along with Barbarians at the Gate.
If you were asking something like who has read Fool's Gold or The Partnership, I could understand these types of questions, but the above question is the book equivalent of "Have you seen Wall Street?".
Didn't know Monkey Business was that popular. I first heard about it a few months back.
It hasn't reached the cult status of Liar's Poker or Barbarians at the Gate, but it will after another 10 years. It's one of those books that is thrown around ALOT. If you were to search on this site for people asking for book suggestions or what some of the best finance books were, it is almost certaintly going to be listed.
Your question wasn't the worst, but when that other guy asked about Liar's Poker it was kind of a tipping point.
I stand corrected sir. It's just that when you are on this site as much as I am you lose your sense of sarcasm when it comes to silly questions related to finance. You have no idea some of the questions I and other users have gotten.
To the OP, ever wonder why we have Banana's and various levels of Monkey-ness on WSO...connection...maybe?
WOW!
It all makes sense now!!
Also, I've never read Monkey Business but just may now. Read every other one, couldn't really finish Barbarians because it appeared too long and boring for my taste at the time.
On a side note, Merry Christmas Gentleman!
Chill out guys, I was looking to reminisce over the funny parts of the book I had just finished reading. For future reference, I will refrain from asking similar types of questions, as it seems you guys don't have a sense of humor.
Is this the book about Tron?
Does anybody have a pdf copy of this book? I cannot find here in China. Thx
I have a few copies is anyone wants them. They are also door prizes at energy rodeo.
www.energyrodeo.com [email protected]
check site and email me for info on books...
i am making a list of top finance and energy books...will post once i am done.. class of 2006 so plenty of good resources
I've been hanging around for a while and this is honestly the only time I've (I believe) heard it mentioned. Who knows, I drunk post a couple times a week so maybe I have seen the mention before
After reading Monkey Business (and a bit of Liar's Poker) (Originally Posted: 03/15/2013)
So Troobie and Rolfe went on to hedgefunds after IBD? I thought usually the S&T guys go to hedgefunds, and the IBD guys usually go to PE? Is this normal?
Also, and please understand this isn't meant to offend, as I have yet to step foot inside an investment bank to do work, but what do S&T guys do that is so hard? I understand you need to multitask on phones and put in orders during trading time, but do you need to stay in the office that late ever? It just seems that after reading the WSO compensation report and seeing that S&T gets paid higher (analysts), on top of the fact that their work seems easier (at least from reading these books), I may have chosen the wrong side of the fence with IBD, considering that both S&T and IBD seemed appealing to me.
Just my thoughts. I'm probably wrong, so feel free to tell me why.
Hedge funds a very diverse breed, so the type of candidate that goes to hedge fund A may be very different from the type of candidate that goes to hedge fund B. What it ultimately comes down to is whether your experience is relevant to the particular fund. If I remember correctly, and it's been a while since I read Monkey Business, but one of the authors went to a credit focused fund, which wouldn't be too unusual if he'd previously worked on HY bond offerings or leveraged loans/M&A. IBD analysts who go into HF's tend to go to fundamentally focused funds with strategies like long/short equity, credit (if there is a background that fits into this, such as RX or leveraged finance), and potentially event driven (merger arb, spin offs, etc.). There are probably also other strategies that fit well, but these are some good examples. S&T can place into HF's as well, but the funds will generally tend to be more market driven rather than fundamentally focused, but it's also important to remember that S&T itself is very broad, so it's not like a S&T analyst couldn't place into a fundamentally focused fund.
At the entry level, S&T and IBD pay are more or less comparable, although IBD tends to be a little bit higher on average, and S&T offers a much quicker promotion (and associated pay increase) structure, assuming you do really well. On the other hand, prop shops would offer you an even quicker promotion structure compared to S&T at a bank, but you'll also be nudged out much faster if you're unprofitable.
You say you haven't ever set foot inside a bank. Why does it matter if you think you chose the wrong side of the fence if you haven't actually made a choice yet?
So YOU'RE the guy who added his comp numbers from Staples...
just read Monkey Business (Originally Posted: 09/29/2009)
they had a copy at my company's library. does it suck that much? i read the barbarians at the gate and fell back in love with banking after my episode and now i think that maybe it worked out for the best... Anyways, gotta go back to do all the numerical tests for the BBs hahahahah if i dont get in this year, then i will try the mba route. doing pretty good at my current job.
what is funny is that at my company's library they have all the classic IBanking books, wonder why? (i know the answer and am not expecting one, especially from LondonE1).
While I haven't started my BB job, I think whether your experience sucks really depends on your bank and group. From reading that book, it appears the the culture at DLJ was terrible, with assholes running the firm. I'd imagine that at most banks, while the hours are long, people don't hate what they do. Then there are some groups, like Ben Lorello's, where people are miserable.
But reading Monkey Business definitely didn't discourage me from going into banking. I read Liar's Poker and that was definitely overrated, I don't see what all the fuss is about. Reading "The Accidental Investment Banker" now. Is Barbarians at the Gate actually worth reading next?
i love how banker88 feels the need to casually drop that he got a BB offer in every thread. we get it, banker88. you got a job. congratulations. on the bright side, i think this means he will stop mentioning that he interns at a hedge fund in every thread.
lol, my bad. the ego is already getting to me.
Finally, I can actually call myself banker88. Before that I just worked at a fund of funds.
you will always be FundOfFunds88 to me
yes, barbarians at the gate is good, after the 100th page i would say.
"While I haven't started my BB job..."
haha you must've gotten your offer this week, still got a better part of a year to go.
Congrats.
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