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I'm reading a book now call "Liquidated: an Ethnography of Wall Street" by Karen Ho from Princeton. There is this incredible part at the beginning of the book w
by Top19 9y ago
I'm reading a book now call "Liquidated: an Ethnography of Wall Street" by Karen Ho from Princeton. There is this incredible part at the beginning of the book where the Vice Presidents of Goldman Sachs are training the incoming group of Junior Analysts who have all just graduated MBA school, telling them how to treat the executives of the companies they are going to be analyzing.
They make them shout over and over "MANAGEMENT ALWAYS LIES, MANAGEMENT ALWAYS LIES, MANAGEMENT ALWAYS LIES".
That scene took place in the early 90's, and I can't imagine anyone thinks it's gotten better in regards to the ethics of top management, their understanding of technology, or their desire to participate in insider training.
- ISL 9y agoSuch a mantra may not be true, but it imbues analysts with a sense of skepticism. The analysts are the very people Goldman expects to detect lying management.