Wednesday, January 18, 2012

Exile on Wall Street: One Analyst's Fight to Save the Big Banks from Themselves

Lonely. Mike Mayo has spent his career as a financial analyst specializing in banks. In his book, Exile on Wall Street, Mayo describes his early experience working at the Federal Reserve providing analysis on bank mergers, and then as a sell side stock analyst for a variety of Wall Street firms. Readers will come away from this book with the sense that Mayo is not a person inclined to get along and go along. He is willing to go against the views of those around him and come up with his independent judgment. His record shows him as being right more often than he was wrong. Instead of being acclaimed for his wise analysis, he was often treated as a pariah. Accepting that his account is one side of a story, this is an interesting description of the challenges involved in financial reform. Those readers interested in this subject will find the book quick to read and liable to induce further thinking on this subject.

Rating: Three-star (Recommended)
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