Meat of Wall Street - How I Survived the Stock Market Slaughterhouse

Author: Andy Keizer
Publisher:
Publish Date: 2006-11-01
Features: In 1985, 26-year-old Andy Keizer, a software engineer at Bell Labs, became an investment analyst at PaineWebber Investment Company. Before that, he knew nothing about Wall Street. After that, he not only became the second-ranked golden investment analyst in the industry but also joined Morgan Stanley, becoming the soul of technology stock analysis. When his old colleagues and friends fell one after another in the 2001 Wall Street corruption storm, Keizer had already miraculously withdrawn, becoming one of the most successful fund managers on Wall Street. Looking back on his 20-year career as an investment analyst, Andy Keizer takes readers into a bizarre world of Wall Street. Here, readers can not only experience the strangeness and diversity of Wall Street but also glimpse the unknown sides of legendary figures on Wall Street such as Quentin, Gruberman, and Mike. More importantly, Andy Keizer combines the sensational Spitzer investigation to provide an incisive observation and analysis of the changes and systemic issues on Wall Street over the past 20 years, allowing readers to see through the dazzling interests of Wall Street and gain a deeper understanding of this financial mechanism... I dialed the phone number listed in the advertisement. "Hello, this is the Research Department," a woman answered from the other end. "Ah? The Research Department?" I hesitated for a moment but quickly said politely, "Could you please transfer me to Robert Cornell?" "He's not in the office today. Would you like me to leave a message for you?" "Please have him call back Andy Keizer, at this phone number. Sorry, by the way, could you tell me which company this is the Research Department of?" "PaineWebber," the other replied. I had seen an advertisement for PaineWebber earlier but knew nothing about the company. It was 1985, I was 26, and I wasn't in a great hurry to get the job. Cornell called me back the next morning. His voice on the phone was peculiar and deep. He inquired about my background and asked when we could meet. I was about to go from my residence in New Jersey to a headhunting firm in Manhattan, New York, specializing in short-term job opportunities for programmers and tech professionals, so I told Cornell we could meet during lunchtime. I decided to dress my best: a burgundy-red shirt, a navy blue wool tie, Haggar double-knit relaxed trousers, and no jacket—this was the earliest "tech geek fashion," which started to become popular around 1985. I met a former colleague at the intersection of 51st Street and Sixth Avenue, and he asked where I was going. "Dressed like this for a PaineWebber interview?" he eyed me up and down with the look of someone thinking, "How could you dress like such a ridiculous fool." Well, I was a ridiculous fool. I started to feel a bit uncomfortable about how poorly I was dressed. Walking into 1285 Avenue of the Americas, taking the elevator to the 9th floor, and heading to the receptionist. Behind me, a slightly ajar door caught my eye quickly; inside were people shouting at each other or shouting into phones—it was a strange place. The reception area was furnished with the worst artwork I had ever seen in my life; the hideous modern paintings looked like they were made by a three-year-old. "Hi, I'm Robert Cornell," he said. He was unusually short, and his voice was just as deep as it sounded on the phone. As he shook my hand, he slowly scanned me from head to toe and back again (I didn't mention that I was wearing dirty brown "Florsheim" leather loafers?), and a strange smile appeared on his face. Later, I learned that the smile implied: Look at this person's clothes and appearance. I thought, "This must be the person I'm looking for!" "Come in, let me introduce a few people who will be joining us for lunch to you. Smith, Gruberman, let's go!" The first guy to show up was a bit chubby, well-dressed, and bald, greeting us with a British accent, and Cornell introduced him: "This is Steve Smith, he's the top guy in Wall Street's computer industry analysis." The second guy who came over was wearing a three-piece suit, his shiny black hair combed backward, and he had a very conspicuous, menacing-looking mustache. He greeted us with a thick Philadelphia accent: "Hey!" He sounded almost...