The Battle for Wall Street

出版者:Wiley

作者:Richard Goldberg

页数:240

出版时间:2009-01-09

价格:USD 29.95

装帧:Hardcover

isbn号码:9780470222799

具体描述

An insider’s look at the changing balance of power on Wall Street The Battle for Wall Street follows the struggle for power between two giants: the sellers, traditional commercial and investments banks; and the buyers, upstart hedge funds, private equity firms and the like. The battle is about winning the hearts, minds, and – yes, the wallets – of global investors. This battle is still running its course, and with the insights of industry veteran Richard Goldberg, who has had a front row seat, readers will gain a detailed understanding as to what, exactly, is going on within this dynamic arena, specifically the forces behind the shift of power from the old sell side gatekeepers to the new buy side players. The book will play out in three acts: Act One will examine the instruments of change – liquidity and financial technology – along with their influence on the sell and buy sides. Act Two will look at the agents of change – hedge funds, private equity, financial entrepreneurs, endowments, exchanges and sovereign wealth funds – and their impact on the sell and buy sides. In Act Three, Goldberg will take out his crystal ball and walk through the strategic implications for the winners and losers in this battle, against the dramatic backdrop of the subprime mortgage crisis and the resulting shakeup of global firms like Bear Stearns. But Wall Street isn’t simply about institutions or corporate battles. It’s a landscape dominated by personalities. Goldberg’s unique access to major players will bring this book to life with amazing anecdotes and stories about the financial generals who have left their mark in The Battle for Wall Street.

From the Inside Flap

A conflict of epic financial proportions has begun on Wall Street and will continue to rage on in the coming years. The opposing forces are the sellers: an army of commercial and investment bankers; and the buyers: an army of hedge fund managers and private equity groups. It is a battle about power—and about winning the hearts, minds, and wallets of the investment community. In The Battle for Wall Street , twenty-five-year Wall Street veteran Richard Goldberg analyzes the struggle for power between traditional sell-side financial institutions—who have seen their dominance upended during the 2008 financial crisis—and buy-side newcomers, and tells what it means for you and your financial future. Goldberg explains how, for over 100 years, the sellers held all the power. They made markets, controlled information about markets, and largely managed markets, while buyers were participants with limited power or influence, or none at all. He shows how, with the revolution in information technology, buyers gained access to the same data as the sellers and quickly became an equally powerful force in the marketplace—just as the numerous new pools of liquidity made money more readily available. The author examines the various drivers of large-scale trading technology, the "agents of change" that include private equity, hedge funds, endowments, sovereign wealth funds, and the major exchanges that are fast becoming global financial supermarkets. With an insider's eye, he looks at the various strategies and initiatives currently under way as a wide range of powerful firms fight to manipulate this new generation of financial technology to their advantage. Throughout the book, he draws on the experiences of many of the sell- and buy-side "generals" in the battle. With prominent sell-side players either out of business or humbled into restructuring as commercial banks, Goldberg offers dire predictions for some and success for others. And as Goldberg reveals the factors that will create future winners, those who stay ahead of these changes will profit in their careers and their investments. This book will be your guide.

用户评价

这部作品给我带来了一种久违的、如同置身于历史洪流之中的震撼感。作者叙事的手法极为高超，他仿佛是一位经验丰富的导游，带领我们穿梭于那些决定了现代金融格局的关键时刻。我尤其欣赏他对复杂经济学概念的拆解，那种深入浅出的功力，让即便是对宏观经济学一知半解的普通读者，也能清晰地把握住事件背后的逻辑驱动力。书中对那些幕后操盘手们心理活动的描摹，更是入木三分，他们的雄心、焦虑、以及在面临抉择时的道德困境，都被刻画得淋漓尽致，让人不禁思考，究竟是制度塑造了这些人，还是这些人定义了制度？阅读的过程中，我多次停下来，反复揣摩某些段落，那种文字的张力，仿佛能让人闻到硝烟味，感受到权力交锋时的那种令人窒息的压迫感。全书的节奏控制得极佳，时而如平静的湖面，细细铺陈背景脉络，时而又陡然加速，进入白热化的冲突阶段，这种张弛有度的叙事节奏，极大地增强了阅读的沉浸体验。它不只是一部关于金融的书，更是一部关于人性、权力与社会结构相互作用的史诗。

阅读体验上，这本书的行文风格充满了古典的庄重感，但绝不晦涩难懂。作者擅长使用排比和长句来营造一种史诗般的氛围，仿佛在讲述一场持续了数十年的宏大战争。书中关于监管失灵和信息不对称的论述，尤其让我感到心惊。它揭示了一个令人不安的事实：在某些关键时刻，那些制定规则的人，恰恰是最大的规则破坏者，而普通民众却对此几乎无能为力。我感觉自己仿佛站在一个高耸的瞭望塔上，俯瞰着整个金融世界的起起落落，那些曾经模糊不清的事件，此刻变得清晰、有条理、且具有令人信服的因果链条。这本书对“常识”的挑战是彻底的，它要求读者放弃那些被简化和美化的叙事版本，直面金融世界残酷而真实的面貌。对于任何希望深刻理解现代资本主义运行逻辑的人来说，这无疑是必备的参考读物。

这本书最吸引我的地方，在于它展现了知识和权力结合后的巨大能量，以及随之而来的腐蚀性。作者并没有仅仅停留在对事件的描述层面，他深入挖掘了支撑起整个体系的意识形态基础，比如“效率至上”的教条是如何为不负责任的行为披上合法外衣的。阅读过程中，我的情绪经历了大起大落，时而因看到正义力量的微弱反抗而感到振奋，时而又因看到既得利益集团的顽固和狡猾而感到深深的无力。其中关于信息技术如何被用于加速金融投机的那部分描述，读来令人不寒而栗，它清晰地展示了速度如何取代了审慎，成为了市场的新主宰。这本书的结构非常清晰，像是一个精心构建的迷宫，每当你以为找到了出口时，作者又会引导你进入另一个更深层的伦理困境之中。它带来的震撼是思想层面的，它不是让你知道“谁赢了”，而是让你思考“我们输掉了什么”。

这是一本需要慢读、细品的鸿篇巨著，它不像市面上那些追求速度和爆点的财经读物。作者的学识储备是惊人的，他能够精准地调动历史、哲学乃至心理学的知识体系来佐证自己的观点，使得论证过程显得无比坚实。我特别欣赏作者在构建叙事时所展现出的克制与平衡，他没有陷入简单的“好人与坏人”的二元对立，而是将焦点放在了系统性的缺陷上。那些被描绘的金融巨头，他们的决策并非全然出于邪恶的动机，更多的是被既有的规则和无休止的竞争逻辑所裹挟。这种 nuanced 的处理方式，让这本书的格调瞬间提升。我花了大量时间去查阅书中提及的一些历史背景资料，发现作者在史实的引用上几乎做到了滴水不漏，严谨得令人敬佩。它提供的不是一个简单的结论，而是一整套分析问题的工具箱，教会读者如何透过表面的喧嚣，看到底层运作的机制。

老实说，我原本以为这会是一本枯燥的纪实文学，堆砌着年份和数字，没想到它完全颠覆了我的预期。作者的笔触带着一种近乎小说家的细腻和敏锐，他似乎对人性的弱点有着近乎残忍的洞察力。书中对不同利益集团之间的博弈描绘得如同莎士比亚悲剧一般，充满了宿命感和不可避免的冲突。我特别关注了其中关于市场情绪如何被操控和放大那一章节，那种对群体无意识行为的分析，简直是教科书级别的范例。每一次市场动荡，都不是孤立的技术性事件，而是深植于社会结构和权力分配不均的必然结果。读完之后，我感觉自己对新闻里那些关于“市场回调”或“信心危机”的报道，有了一种全新的、更加批判性的理解视角。它迫使我跳出日常碎片化的信息流，去审视那些深层次的、结构性的问题。这本书的价值在于，它不仅记录了“发生了什么”，更深刻地剖析了“为什么会发生”，并预示了“可能还会发生什么”。

米国金融界的描述

米国金融界的描述

米国金融界的描述

米国金融界的描述

米国金融界的描述