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deblina's review against another edition
reflective
fast-paced
2.5
- Kinda skimmed honestly - a little bit of me-search motivating this read, but I don't think this had like a bunch of novel insight
- I think I've heard Jasmine sort of quote this positively, but I can't find the quote rn
- Less academic version of Liquidated
nuhafariha's review against another edition
5.0
Overall, Roose presents a fun, light book that appeals to the 20 something who just wants to know what it's really like to be on Wall Street. The main downside is that it was confusing keeping the narratives together when Roose splits up each character's story over several interwining chapters. Another critique would be that the chapters themselves could have been longer and covered more material than separate and unsubstantial. In terms of content, Roose could have also gone deeper into the sociopolitical causes of Wall Street's breakdown, the protest, and its eventual revival.
ferris_mx's review against another edition
3.0
For a while I was going to soften this review, because I have a friend-of-a-friend relationship with the author, and I'm also open to the possibility that I have some sour feelings about a spurned friend request and the fact that the author didn't seek my input despite 25 years on the street.
Then I got pissed about the episode where the author infiltrates the PRIVATE banking equivalent of the White House Correspondents' Dinner and reports private jocular interaction with attribution. And you know, I feel that many of the jokes were in poor taste, and if I were at that dinner, I would be uncomfortable. But the reporting of that dinner was unethical and so I'm going to say what I want to say about the book.
First, the reporting on the analysts is trite. The author maintains an arms length relationship with his subjects, and as a result, never gets inside the analyst experience in an interesting way. Statements are passed off as fact (such as, before 2008 firms like Goldman Sachs and Morgan Stanley rarely had layoffs - FALSE). Why say such things? Yet the book is rife with them.
The author starts with the preconception that Wall Street is bad. And, maybe it is. But if that's the point, research it and write a book making that case. Then I can at least argue with the analysis. In this book, the anecdotes of the analysts are spun to conform to that preconception without any critical support. Thus, the reportage loses authenticity and the book's thesis remains unsupported. The author's attitude towards the young financiers is patronizing.
Don't believe me? It's an easy beach read. Let me know what you think.
Then I got pissed about the episode where the author infiltrates the PRIVATE banking equivalent of the White House Correspondents' Dinner and reports private jocular interaction with attribution. And you know, I feel that many of the jokes were in poor taste, and if I were at that dinner, I would be uncomfortable. But the reporting of that dinner was unethical and so I'm going to say what I want to say about the book.
First, the reporting on the analysts is trite. The author maintains an arms length relationship with his subjects, and as a result, never gets inside the analyst experience in an interesting way. Statements are passed off as fact (such as, before 2008 firms like Goldman Sachs and Morgan Stanley rarely had layoffs - FALSE). Why say such things? Yet the book is rife with them.
The author starts with the preconception that Wall Street is bad. And, maybe it is. But if that's the point, research it and write a book making that case. Then I can at least argue with the analysis. In this book, the anecdotes of the analysts are spun to conform to that preconception without any critical support. Thus, the reportage loses authenticity and the book's thesis remains unsupported. The author's attitude towards the young financiers is patronizing.
Don't believe me? It's an easy beach read. Let me know what you think.
kristinnyoung's review
5.0
As the spouse of a (blessedly former) investment banking analyst, I found Kevin Roose's observations, opinions, and storytelling sadistically hilarious and somehow, strangely comforting. I often yearn for the humanization of those in the banking industry without compromising the dark realities of the industry and the system at large, and I think the biggest gift the author gave to young financiers is the confirmation from an outsider that they are not soulless, are likely not a huge part of the problems most people have with the financial industry, and are victims of the system in their own right. If you hate finance and bankers and just want to see them shat on, don't read this. If you don't hate finance but are in touch with reality and also have a sense of humor, do read this.
600bars's review against another edition
4.0
My least favorite section to shelve at work, besides reference, is the Business section. There is barely anything that holds my interest in it because it's almost all self-help psuedospirituality but with corporate aesthetics. So when something actually stuck out to me I had to read it right away. I thought maybe this book would just be tales of debauchery but I was also curious about the time period. I usually feel like I don't need to do reading about the 2008 crash and occupy because I was alive when that happened, but I was too busy caring about middle school drama to be more than vaguely aware of what was going on.
This was a rollicking ride and I loved reading it. I barely have a grasp on what half these terms mean (what is a mortgage backed security? what are options? I only recently fully understood what it means to short a stock) but that's not the focus of the book. You truly could not pay me enough to live like this. It's so hard for me to put myself in these people's shoes because I cannot comprehend having a value system that works this way. It's so depressing (well, honestly it makes me feel a bit of schadenfraude good cheer) that when you break down the ungodly hours these analysts work, they are basically making 15 dollars an hour. You can make that same rate at a restaurant or retail job and still have time to have a life and friends and hobbies. I don't get what these people are even spending money on. They all live in sparse apartments that they never go to, and the only free time they have is spent drinking. What a miserable existence.
Something this book pointed out that I had never thought of was the way the finance industry siphons talent and brains away from literally anything else. I never knew that a large portion of grads who go into the industry are doing so because they don't know what else to do and are aimless (this is very relatable to me, but you will never catch me in a million years going into finance lmfao). The fact that some of the people interviewed were going to go into medicine or things that could actually help the world were instead sucked into this black hole is such a waste!!!!!
It isn't surprising that many people who wouldve gone into finance instead go into tech. Isn't it FinTech now?? seems kinda merged. 10 years ago when the books events were happening tech probably seemed more exiting and more beneficial to the world, but nowadays if you are having a (im)morality contest I'm not sure who would win(lose). We all know how awful FAANG are for society, and there have been several high profile downfalls like Theranos and WeWork that kinda mirror Wall Street scandals like Enron.
Another change that has happened in the last 10 years is the rise of stock trading as a hobby for normal people. Of course that's always been a thing hence "publicly traded company", but I'm talking about the rise of the Robin hood app, crypto, NFTs, r/wallstreetbets. I wonder if the rise of the Reddit Analyst has made more young people go into banking, or if it has made more people realize they can have a regular job and still make some money and get adrenaline rushes on Wall Street from the comfort of their bedrooms.
I remember watching wolf of wall streets in theaters and sobbing because I couldn't believe how awful people were and that any of it was truthful lol
Soo-Jin did not get enough screen time in the book!
I was entertained, I learned things, I liked the author's reporting (especially when he snuck into that Supper Club induction ceremony... I was expecting some Eyes Wide Shut type shit and it's honestly so lame of them that they were doing something as silly as that..... But anyway respect to the author for that one, that was ballsy)
This was a rollicking ride and I loved reading it. I barely have a grasp on what half these terms mean (what is a mortgage backed security? what are options? I only recently fully understood what it means to short a stock) but that's not the focus of the book. You truly could not pay me enough to live like this. It's so hard for me to put myself in these people's shoes because I cannot comprehend having a value system that works this way. It's so depressing (well, honestly it makes me feel a bit of schadenfraude good cheer) that when you break down the ungodly hours these analysts work, they are basically making 15 dollars an hour. You can make that same rate at a restaurant or retail job and still have time to have a life and friends and hobbies. I don't get what these people are even spending money on. They all live in sparse apartments that they never go to, and the only free time they have is spent drinking. What a miserable existence.
Something this book pointed out that I had never thought of was the way the finance industry siphons talent and brains away from literally anything else. I never knew that a large portion of grads who go into the industry are doing so because they don't know what else to do and are aimless (this is very relatable to me, but you will never catch me in a million years going into finance lmfao). The fact that some of the people interviewed were going to go into medicine or things that could actually help the world were instead sucked into this black hole is such a waste!!!!!
It isn't surprising that many people who wouldve gone into finance instead go into tech. Isn't it FinTech now?? seems kinda merged. 10 years ago when the books events were happening tech probably seemed more exiting and more beneficial to the world, but nowadays if you are having a (im)morality contest I'm not sure who would win(lose). We all know how awful FAANG are for society, and there have been several high profile downfalls like Theranos and WeWork that kinda mirror Wall Street scandals like Enron.
Another change that has happened in the last 10 years is the rise of stock trading as a hobby for normal people. Of course that's always been a thing hence "publicly traded company", but I'm talking about the rise of the Robin hood app, crypto, NFTs, r/wallstreetbets. I wonder if the rise of the Reddit Analyst has made more young people go into banking, or if it has made more people realize they can have a regular job and still make some money and get adrenaline rushes on Wall Street from the comfort of their bedrooms.
I remember watching wolf of wall streets in theaters and sobbing because I couldn't believe how awful people were and that any of it was truthful lol
Soo-Jin did not get enough screen time in the book!
I was entertained, I learned things, I liked the author's reporting (especially when he snuck into that Supper Club induction ceremony... I was expecting some Eyes Wide Shut type shit and it's honestly so lame of them that they were doing something as silly as that..... But anyway respect to the author for that one, that was ballsy)
annakmeyer's review against another edition
3.0
Quick and easy read that ultimately just made me feel poor.
aqualing's review against another edition
5.0
This might not be the most scientific analysis of such subject. It's the most humane one. Instead of merely putting out statistics and numbers, you get a narrative of real people in real life in full color. It provoked a lot of thinking on my end even though I'm usually not interested in finance related topics. To me, this is the kind of report of more depth and vision.
sh_ng's review against another edition
4.0
very engrossing and i read it in effectively one sitting. an incredible read right after finishing free food for millionaires.... also i'm impressed by the author's ability to sneak his way into all these weird-ass events
laurab2125's review against another edition
3.0
This was an interesting look behind the closed doors of Wall Street, but I found the cast of characters, while likeable, not memorable. I think I would have preferred half the analysts, with more depth given to each one. By the end of the book, I found that while I learned something, that I didn't gain as much insight as I thought I would.
amcloughlin's review against another edition
3.0
As a Millennial working at an investment bank, I had to read this book sooner or later, and my enthusiasm over Kevin Roose's first book The Unlikely Disciple was a great impetus to finally read Young Money.
In the press tour around the book's release, Roose's interviewers focused on what his three years of reporting meant for American culture, the banking industry, the ethics of finance, and such. Those conversations are good to have, but they're not what the book is about. Young Money charts the journeys of eight new graduates who found themselves, for one reason or another, working at investment banks. Its focus is intensely personal, contextualized when needed with broader looks at the culture and mechanics of banking and finance. I actually wish I could have read this when I first started interning at an investment bank--it would have saved me months of furtive Googling and "um this might be a dumb question but..." conversations.
I do wish Roose either wrote more about each person or cut some of them out, since tracking eight stories is difficult when we only get a few scenes with each person. Still, Young Money is well-balanced, informative, and compassionate. I recommend it to everyone who wants to learn what finance is really like, what motivates the people who work in the industry, and how this handful of 2010 graduates have negotiated the ups and downs of post-college life.
In the press tour around the book's release, Roose's interviewers focused on what his three years of reporting meant for American culture, the banking industry, the ethics of finance, and such. Those conversations are good to have, but they're not what the book is about. Young Money charts the journeys of eight new graduates who found themselves, for one reason or another, working at investment banks. Its focus is intensely personal, contextualized when needed with broader looks at the culture and mechanics of banking and finance. I actually wish I could have read this when I first started interning at an investment bank--it would have saved me months of furtive Googling and "um this might be a dumb question but..." conversations.
I do wish Roose either wrote more about each person or cut some of them out, since tracking eight stories is difficult when we only get a few scenes with each person. Still, Young Money is well-balanced, informative, and compassionate. I recommend it to everyone who wants to learn what finance is really like, what motivates the people who work in the industry, and how this handful of 2010 graduates have negotiated the ups and downs of post-college life.