Fotografía de autor
8 Obras 170 Miembros 2 Reseñas

Sobre El Autor

Mike Mayo writes film reviews for 99 Lives, an Internet video magazine. A captive fan of horror flicks since he first saw the original Invasion of the Body Snatchers, Mayo is the author of VideoHound's Video Premieres and a contributor to VideoHound's Cult Flicks and Trash Pics and VideoHound's mostrar más Sci-Fi Experience, all published by Visible Ink Press. mostrar menos

Obras de Mike Mayo

Etiquetado

Conocimiento común

Género
male

Miembros

Reseñas

Mike Mayo is one of the best and most controversial sell-side analysts covering the financial sector. Over the years he has made a name for himself, both for the quality of his research and for his willingness to issue unflattering reports on the banks in his coverage universe. While most analysts on the sell-side are essentially obscenely overpaid cheerleaders, Mayo has been openly and even aggressively negative. Critics say that his views are so negative that they detract from the quality of his analysis. But on balance, he has been right more than he has been wrong. And the proverbial proof of the pudding can be found in the fact that bank stocks have generally been crummy investments over the past 15 years or so -- good trading vehicles, perhaps, but very poor investments for those with a longer term horizon.

In a business filled with prima donas, Mike Mayo stands out. He possesses an ego of truly gargantuan proportions. So, his portrayal of himself as an idealistic and somewhat naive crusader is a bit hard to swallow. (He professes to have been shocked and disillusioned when he first learned that some bank CEOs were motivated by the prospect of financial gain!!) Indeed, one suspects that Mayo's relentless job-hopping reflects his own opportunism as well as the professional martyrdom which his unflinching honesty has precipitated.

Nonetheless, he makes some excellent points and his description of the inherent tension within major Wall Street firms between analysts (who theoretically have the best interests of investors at heart) and investment bankers (who want to do deals with the firms the analysts are covering) should be of interest to people who want to get a better sense of how the system really works on a very nuts and bolts level. There is real value in seeing how the sausage is actually made, no matter how unappetizing the process!!

Mayo's indictment of the abuses associated with executive compensation at major banks is generally correct, and his account of his long-running 'war' with Citigroup provides a good (if terribly self-serving!) overview of the incompetence and abuse that have characterized the management of that august institution for decades.

Although this may be too much 'inside baseball' for some readers, anyone who has worked in the industry will relish Mayo's stories about the foibles of large bank CEOs and his tales of being denied access to major banks in retaliation for his candor.

Drawing on his years of experience, and writing in the wake of the (ongoing) financial crisis, Mayo concludes with a series of recommendations for fixing the system. His plea for clearer and more 'common sense' accounting standards underestimates the complexity of the issues involved, but his larger point about the needs for more transparency throughout the system is spot on!
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MarkStickle | otra reseña | Feb 7, 2012 |

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Estadísticas

Obras
8
Miembros
170
Popularidad
#125,474
Valoración
3.8
Reseñas
2
ISBNs
19

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