The accidental investment banker - some random thoughts
A lot of comments to this book are made on the firm politics, on the sales nature of the banking job, on the drama of the gifted child, and on the access to CEOs, all of which are somehow related to the perceived public image of the industry and the bankers.
But it is much more than that. It accurately captured the life of bankers while being reflective on the industry. It is very true, very real. It is an enlightening and fun reading from both a macro and a micro perspective, particularly for me at this time.
A few thoughts:
1. The banker's pride. I simply cannot imagine that people will do this job just for the sake of money or the perceived glory, if there is any. Maybe still being too naive, I believe that there should be moments that you feel such pride entailed in providing a client honest, objective advice, combined with professional, diligent execution. And this pride should be the motivation. It does not happen a lot when you have to deal with the tedious process and tough client management. But it does happen.
2. The tech bubble. Sitting in the middle of the Chinese tech bubble (or the burst of the bubble) and reading what happened in the U.S. 10 years ago, all i can say is that history repeats itself in an amazing way. However, it may not be the bankers' greediness that made the bubble. Rather, it is human being's greediness. And this is what we are seeing every day, inside and outside the banking industry.
3. The Rilke test. It is funny to see a banker talking about a poet (I have to admit i am being cynical here). But one should really engage in a little Rilke introspection when it comes to this intense, fast-moving job. "Ask yourself in the stillest hour of your night: must I write? if you pause for an instant, choose something else. It is enough...to feel that one could live without writing, then one must not attempt it at all. " This is a stringent standard. But the point is that you will have to ask yourself this question at some point.
Last note: one comment suggested that having access to CEO / decision makers might be a good answer to the why banking interview question. This will not work at all. :)
But it is much more than that. It accurately captured the life of bankers while being reflective on the industry. It is very true, very real. It is an enlightening and fun reading from both a macro and a micro perspective, particularly for me at this time.
A few thoughts:
1. The banker's pride. I simply cannot imagine that people will do this job just for the sake of money or the perceived glory, if there is any. Maybe still being too naive, I believe that there should be moments that you feel such pride entailed in providing a client honest, objective advice, combined with professional, diligent execution. And this pride should be the motivation. It does not happen a lot when you have to deal with the tedious process and tough client management. But it does happen.
2. The tech bubble. Sitting in the middle of the Chinese tech bubble (or the burst of the bubble) and reading what happened in the U.S. 10 years ago, all i can say is that history repeats itself in an amazing way. However, it may not be the bankers' greediness that made the bubble. Rather, it is human being's greediness. And this is what we are seeing every day, inside and outside the banking industry.
3. The Rilke test. It is funny to see a banker talking about a poet (I have to admit i am being cynical here). But one should really engage in a little Rilke introspection when it comes to this intense, fast-moving job. "Ask yourself in the stillest hour of your night: must I write? if you pause for an instant, choose something else. It is enough...to feel that one could live without writing, then one must not attempt it at all. " This is a stringent standard. But the point is that you will have to ask yourself this question at some point.
Last note: one comment suggested that having access to CEO / decision makers might be a good answer to the why banking interview question. This will not work at all. :)
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