Why I Left Goldman Sachs by Greg Smith

Not a mind blowing book for sure, but maybe a worthwhile, I dunno, bathroom read or something. A few observations, though.

A, the book is 11 chapters long, and the first 10 is all [in high pitched voice] “I love you, Goldman Sachs, I love you”, over and over again. Agree with dealbreaker, sometimes it seemed as if he wanted the firm to turn to him and say “I'm so sorry, Greg, old buddy”, hug him and then elect him partner or CEO or something.

B, most of it is written with an attitude as if he had not outgrown his junior banker excitement – strange to hear it from an overdue VP/ED who worked 11 years in the industry – and especially on GS trading floor, for Christ's sake – would be more acceptable for an analyst or associate to still trumpet all those “wow's” sooo loud and clear. Looks to me GS never promoted the guy for a reason.

C, chapter 11, “the muppets” chapter (the word itself used less than a dozen times), is way too idealistic for my taste. Maybe I am far too cynical (indeed), but why would you run your firm over in the press like that and bury your career along with it? I don't want to, but I kinda buy into Goldman's case that there are two versions to this tale.

Overall, a quick read – not anywhere as good and exciting as The Accidental Investment Banker, but it has its laughs. Roger out.


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