How Merrill Lynch Revolutionized the Financial World

Via WealthTrack. Why does a book about the creation, rise and fall of Merrill Lynch matter today? Because the rise of the world’s once largest brokerage firm is emblematic of Wall Street’s great success and critical role in the growth and prosperity of this country and the firm’s failure, of the misguided priorities permeating Wall Street today. In this WEALTHTRACK interview we talk to Win Smith, author of the just published Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World. Smith, the former Chairman of Merrill Lynch International resigned from the firm in 2001 because he disagreed with how the firm was being run. This is a fascinating history of Wall Street, two visionary entrepreneurs, their extraordinary achievements and the ultimate destruction of the great firm they created. We are adding it to our WEALTHTRACKbookshelf.

Author, Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World

Former Chairman Merrill Lynch International

Seth Klarman Tells His Investors: Central Banks Are Treating Investors Like “Foolish Children”

Volatility"Surreal doesn't even begin to describe this moment," Seth Klarman noted in his second-quarter letter to the Baupost Group investors.  Commenting on the market developments over the past six months, the value investor stated that events, which would typically occur over an extended time frame, had been compressed into just a few months. He noted Read More