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Just how did the City achieve such high status? Exactly how do the big institutions exercise their controlling influence over British industry and commerce? Does the City still have a life of it's own, or has the overwhelming influence of the American investment banks meant that London has become little more than a colonial outpost of Wall Street?
Just how did the City achieve such high status? Exactly how do the big institutions exercise their controlling influence over British industry and commerce? Does the City still have a life of it's own, or has the overwhelming influence of the American investment banks meant that London has become little more than a colonial outpost of Wall Street? The City: inside the Great Expectation Machine tackles these broad issues and, through a step-by-step analysis of the current institutional investment and investment banking scene, offers answers to several important questions including:
Tony Golding After graduating from Cambridge anbd the University of Sussex, where he gained a doctorate in industrial economics, Tony spent several years with an international electronics company. He entered the City in 1974 and spent 24 years there, starting as an investment analyst with a small, research-based firm of stockbrokers. In 1978 he joined Flemings, the London-based investment bank, becoming a director and head of research in the asset management division. Before the Big Bang in 1986 he took responsibility for setting up the research and sales functions in Fleming's newly extablished securities operation. In 1989 he moved over to investment banking, where he specialized in the generation and marketing of acquisition and equity-financing ideas in several industry sectors, both in the UK and internationally. He left in 1998 to write this book. Many people in the City can lay claim to an in-depth knowledge of one or other of institutional investment or securities or investment banking, but very few have first-hand experience of working at director level in all three. In writing this book, Tony has drawn extensively on the all-round perspective that his varied career has given him.
"In his new book, Tony Golding provides insights into the fund management industry which unline Mathew Goldsmith's view of large companies running small-cap funds".Fundstrategy, January 2001 "In this eloquent and intelligent book, Tony Golding shows why institutions behave the way they do, and how a knowledge of their priorities can help you."Shares, January 2001
"Former investment banker Tony Golding perfectly captures the psychology (of the City) in his recent book where he explains how investment institutions and analysts over-identify companies with their chief executives and then make exorbitant demands on them"
John Plender, columnist, Financial Times
"Tony Golding has done us all a service by lifting the lid on one of the best kept secrets around, which is how the City really works. No investor can fail to profit from reading this insider's account of what drives brokers, fund managers and investment bankers to behave the way they do."
Jonathan Davis, Investment columnist, The Independent
"Fascinating 'anatomy' of the City, explaining to private investors how fund managers reach decisions, and why an understanding of their mindset is crucial to successful private investment."
"Golding explains the ground rules with the clarity of an informed and observant insider, and few serious investors will not learn something from this book."
"I wish I'd read this book before we went public rather than after. Understanding the dynamics of the City and the interplay between the various parties is very important and this book explains these relationships very well".
Dr.Tony Milbourn, Managing Director, TTP Communications plc
"A highly entertaining and particularly insightful read about what investment bankers, fund managers and investment analysts really do and what motivates them. To be highly recommended for all students of the City and an essential text for any MBA course in finance."
Richard Taffler, Professor of Accounting and Finance, Cranfield School of Management