Description
Book SynopsisAn insider''s look at the changing balance of power on Wall Street The Battle for Wall Street follows the struggle for power between two giants: the sellers, traditional commercial and investments banks; and the buyers, upstart hedge funds, private equity firms and the like. The battle is about winning the hearts, minds, and yes, the wallets of global investors. This battle is still running its course, and with the insights of industry veteran Richard Goldberg, who has had a front row seat, readers will gain a detailed understanding as to what, exactly, is going on within this dynamic arena, specifically the forces behind the shift of power from the old sell side gatekeepers to the new buy side players. The book will play out in three acts: Act One will examine the instruments of change liquidity and financial technology along with their influence on the sell and buy sides. Act Two will look at the agents of change hedge funds, private equity, financial entrepren
Table of Contents
Acknowledgments vii
Introduction: Let the Battle for Wall Street Begin ix
Part One: Instruments of Change 1
Chapter 1 Sea of Liquidity 3
Chapter 2 Financial Information in a Digital Age 17
Chapter 3 Prime Brokerage Meeting Hall 37
Part Two: Agents of Change 47
Chapter 4 Hedge Funds: Buy-Side Player, Sell-Side Foe 49
Chapter 5 Private Equity: Buy-Side Player, Sell-Side Friend 67
Chapter 6 Entrepreneurs to Endowments: Buy-side Catalysts 87
Chapter 7 Exchanges: Sell-Side Voice, Buy-Side Electronics 107
Chapter 8 Sovereign Wealth Funds: Sell Side Today, Buy Side Tomorrow 123
Part Three: Implications of Change 135
Chapter 9 Sell-Side Casualties, Buy-Side Implications 137
Chapter 10 Buy-Side Casualties, Sell-Side Implications 155
Chapter 11 Regulatory Implications 171
Chapter 12 Future Implications 191
Notes 205
About the Author 235
Index 237
