1 comments about Eagle on the Street: Based on the Pulitzer Prize-Winning Account of the Sec's Battle With Wall Street.

1. This book provides an insightful look into one aspect of the life of the "Peter Pan of Chicago", Dr. Gregg Jarrell of the William E. Simon Graduate School of Business. Quotes such as "Its easier to beg forgiveness than ask permission" should be a part of any financier's repertiore

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5 comments about The Contrarians: A Novel.

1. That is the question the author is trying answer. The main character is a small-town midwestern, lower-middle class graduate who gets a coveted job as a research analyst on Wall Street. Unfortunately he discovers it's a 70 hour a week job with major pressure which the author goes in to detail describing.

   Equipped with the 1/2 million pay and the beautiful, perfect uppercrust girlfriend, the analyst's world starts to unravel when he agrees to an interview about his career with one of his girlfriend's snooty, uppercrust literary friends.

   I found the author's writing style to be somewhat distracting. He seemed to take 40 words to convey what could be said in ten. For that reason, I struggled through the first third of the book as he set up the story. But the interview by an aspiring author with the investment banker is such a classic battle of two forces who alternatively ridicule and envy each other.

   But the inexperienced banker is in over his head and totally exposed by the interviewer. Among the regretted quotes he regrets is that a half million dollar income is necessary to score a piece of ... like his current girlfriend. Obviously, not the type comment you share with a rival, particularly if he is a journalist.

   While this duel of words is fascinating and forces the investment banker to evaluate his self-worth, the book quickly collapses after the buildup of the interview. The ending becomes somewhat ambiguous and once again collapses under the weight of so many words to describe simple emotions.

   I thoroughly enjoyed the great conflict of the interview. But it's questionable whether this is enough enjoyment for the whole book. As a disclosure, I am an investment banker not in the equity area. The author was a former assistant equity analyst with Goldman Sachs.




2. Too be candid: I was bored. Sernovitz might be capturing the tedium of the research analyst, the conflicts of interest, the give-and-take between the analysts and the investment bankers, the inability of journalists to empathize or to comprehend financial markets (maybe they're just mad that they make so little and our hero makes so much), but most of all I found a boring, self-absorbed character, trying his best to play Bud Fox (of "Wall Street") so he can retire from a job he hates and that clearly troubles him (only enough to have pangs of conscience; not to really do anything about it). This Faustian bargain doesn't offer our protagonist or the reader much other than oppressive work hours, a prohibitively expensive and insane life outside of work (if you can call it a life), a utilitarian relationship with his girlfriend, and a series of flashbacks, reflections and long-winded literary passages. Sernovitz can write but it didn't work for me.

   I find the daily front page of the Wall Street Journal much more interesting. In the future, I will have to read their reviews with more skepticism. If this is how markets work, maybe we should all sleep in a little later and pay a whole lot less attention.




3. I had written a review of this book months ago, but it seems it wasn't accepted for some reason ... no matter, because the more I think about the events in the book, the more I like it.

   I have worked on Wall Street, and even knew the author when he was an analyst. He definitely conveys life on the Street with accuracy - the ethical dilemmas, the need for money (more so than the love of it,) the many un-likeable personalities. His main character, Kelch, certainly embodies those elements.

   I found the writing style to be witty with occasional flashes of brilliance - the dialog between Kelch and the reporter, the dialog between Kelch and his boss near the book's end, for two examples. And the ambiguous ending is perfect, accurately capturing the ambiguity of life on the Street, or even in Main Street America. And that's why I think this novel works so well - though it is set (somewhat necessarily) on Wall Street, I think there are many parallels to life outside of that world.

   Highly recommended, as both a primer to life on the Street, and as a commentary on the many complex issues we all face in our work lives.




4. I didn't expect much from this book, but I must admit, I was pleasantly surprised. The story was interesting, the characters were compelling and the premise, while not uncommon on the street, was a unique idea from which to write a piece of non-fiction.

   The characterization of the securities industry is right on - and the caricatures are amusing.

   The writing wasn't always fluid, but overall the story kept my interest and throughout the book, I was eager to find out what happens in the end.




5. Compelling read revolving around Wall Street research, a part of the industry that hasn't been seen as "sexy" before. I like how Sernovitz portrayed all the inner conflicts in Chris, the main character, as this is often prevalent with research people who have to publish their opinions widely and have their clients make big $ decisions accordingly. A little Jay McInerney in showing what is arguably the seemy side as through the expose. I would have ranked it higher, but some of the mind games and related prose were over the top.

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