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Wall Street Meat: My Narrow Escape from the Stock Market Grinder
 
 
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Wall Street Meat: My Narrow Escape from the Stock Market Grinder [Paperback]

Andy Kessler
4.3 out of 5 stars  See all reviews (3 customer reviews)
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Product details

  • Paperback: 272 pages
  • Publisher: HarperBusiness; Reprint edition (Jan 2004)
  • Language English
  • ISBN-10: 0060592141
  • ISBN-13: 978-0060592141
  • Product Dimensions: 20.4 x 13.5 x 1.7 cm
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Bestsellers Rank: 377,438 in Books (See Top 100 in Books)

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Andy Kessler
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Most Helpful Customer Reviews
11 of 11 people found the following review helpful
By A Customer
Format:Hardcover
For those of us in the industry who missed the party (i.e. started post 2000) this is a fascinating insight into the role of a research analyst during the TMT bubble. I would highly recommend this to anybody interested in any aspect of Wall St, but would point out that post-Spitzer it really is a historical account rather than an insight into how things work today. I really enjoyed this book and the insight into the personalities of the era. It seems the obvious thing to say, but it's true...... this book is the Liars Poker of our generation. However, it is not such a good read and goes in to slightly less detail than Lewis did.
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4 of 4 people found the following review helpful
Sting in the tale 6 Oct 2006
Format:Paperback
I enjoyed Wall Street Meat for two reasons.

Firstly, because it is a well written account of a period I experienced, featuring people I knew and firms I'd worked for etc. Its publication means I won't have to explain to friends and family what I did for a living; now I can get them to read this book. It made me laugh out loud many times, not just out of remembrance, but also because its just plain funny. If you had anything to do with equity research in the 1990s, this is a book about you and you'll enjoy reading it.

The second and more important reason for enjoying this book is because it bravely exposes both the truth about equity research then, and identifies the problems it still faces now. It articulates thoughts and concerns that I ruminated about for a decade but which I hardly dared speak. Kessler's simple but devastating conclusion is that the model is flawed. Eliot Spitzer hasn't fixed anything. Unbundling may help, but investors are often too stupid to identify who makes them money as oppose to who they like.

If you work in equity research, read equity research, or sell equity research then you really should read this book. It'll make you laugh, but there's a real sting in the tale.
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Format:Paperback
I will start with the positives. Wall Street Meat is easily readable and allows readers to understand the sell side equity research world better. Also, it is an interesting account of the tech stocks mania in the late 90s. There book falls short in my view is the lack of details and while the books has its message some parts of the book seem pointless. The same message as in this book is delivered in Seth Klarman's Margin of Safety, but in a much more concise way and it's only a part of that book. I wish Andy Kessler had written the book with the greater depth, so that I would not have a problem to give a four or even five stars rating.

Any potential buyers must keep in mind, that I do not work in the industry. It is highly likely that industry insiders would view this book in a different light.
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