Long Term Greedy: The Triumph of Goldman Sachs

By Nils Lindskoog

What made Goldman Sachs great? How has this firm become an amazingly powerful force in investment banking? Through an analysis of Goldman's responses to its greatest challenges--the 1980s era of junk... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0965215334
• ISBN13: 9780965215336
• Release Date: March 1998
• Publisher: McCrossen Pub
• Length: 159 Pages
• Weight: 1.54 lbs.

Customer Reviews

useful resource

This book gives a good look at Goldman's history and how the firm operates so successfully. For a bit more recent insider's look inside Goldman and how to get hired also try the Vault.com Employer Profile on Goldman Sachs.

Kind of a Neat Book

I found Long-Term Greedy to be an eye opener, as after reading it one realizes there is a great deal that is involved beyond the headlines and published accounts of Wall Street and investment banking. Through an in-depth description of a series of leverage deals, Nils Lindskoog does an interesting job of illustrating how Goldman Sachs survived the roaring eighties and set itself apart from other Wall Street firms in the process. The author's personal experience as a finance person helps him to bring out concepts and aspects of the era that are absent from journalistic accounts. Lindskoog then puts it all in perspective by showing how Goldman's principles relate to what is going on on Wall Street now. Best of all, he writes in a highly clear and concise style, and with a nice dash of wit. With so much negativity about Wall Street and business, it was refreshing to read a success story (and one done in a non-evaluative tone). I believe Long-Term Greedy would be very helpful for anyone interested in Goldman Sachs or how to succeed in an advisory business. For anyone who wants to learn something new about Wall Street finance on a cerebral level or who just wants to curl up with a really neat and intriguing book, I recommend this one--a real gem.

Surprisingly Entertaining!

Long-Term Greedy: The Triumph of Goldman Sachs was a satisfying read on many levels. While there is considerable business analysis (and my background is in science), the concepts and terms are described well and enlightening. But what I enjoyed most was the story aspect. The cast of characters included the people from the 1980's headlines. Lindskoog introduces them as Goldman confronts them on behalf of its clients. He describes how Goldman initially struggles, but ultimately triumphs when faced with the unorthodox tactics of the 1980's. There's even a moral: stick with your principles. I did not expect such a book to be so entertaining! Well done!!

An excellent primer on the financial tactics of the 80's

This book is a concise, well written, and in the end, strangely uplifting account of how Goldman Sachs emerged from the turbulent financial machinations of the 1980's with their firm and principles intact. The characters one hears about as the big players from that era (e.g., Milken, Boesky, etc.) are introduced and their roles in the decade are explained. But of more interest is the patient and thorough explanation of the tactics employed at this time. Terms that I had heard about, and could only venture a guess as to their meanings (e.g., junk bonds, LBO, recaps) are explained in terms that I know are enlightening to the Wall Street novice, but I suspect are also not beneath a more seasoned student of finance. In fact, I believe this book would be an excellent addition to the reading list of many college finance courses. It's presentation would lend itself well to class discussion or case study. The text is accompanied by a lengthy list of notes and external sources that could lead to further study. But even one who, like myself, is just a bit curious about what was going on during the "decade of greed" would find this book well worth the read.

Financial novice or expert will love this story.

This book brilliantly bridges the gap between analysis and narrative, and sheds new light on one of the most important periods of business history. As he delves into one of the most notoriously secretive firms on Wall Street, the author tells the story from an insider's point of view with the perfect balance between basics and detail. Everyone, from the financial novice to the financil expert, will enjoy this read. Entertaining and informative, I read it straight through in one weekend.