Summary of On Money and Markets
A Wall Street Memoir
Heed the immortal words of Wall Street veteran Henry Kaufman: “Money matters, but credit matters more.”
Over the last decade we have seen many self-serving autobiographies and memoirs, but Henry Kaufman’s On Money and Markets certainly is not one of them. Kaufman is an investment banker, but he is also a scholar and a gentleman. These memoirs capture the mettle of the man from his start in the banking business, through his years at Salomon Brothers and eventually to his own consulting business. The period covered, from pre-world War II to the end of the 20th century, is the most dynamic time in the history of the financial markets. It is Kaufman’s insights into these revolutionary years on Wall Street that make this a gripping tale. getAbstract.com recommends this book to all executives and investors, many of whom would benefit greatly from a refresher course in Wall Street history.
In this summary, you will learn
- How Henry Kaufman’s early career developed from industrial banking to investment banking;
- Why Kaufman resigned from Salomon in 1988 after 26 years with the firm; and
- Why Kaufman believes success causes some Wall Street stockbrokers to forget about previous poor decisions and behaviors.
About the Author
Henry Kaufman, Ph.D. is president of Henry Kaufman & Company, Inc., a New York-based investment management and economic and financial consulting firm. For 26 years he was with Salomon Brothers Inc., where he rose to senior partner, member of the executive committee, vice chairman and head of the firm’s four research departments. Since the 1960s, Dr. Kaufman has spoken regularly to leading business and policy groups throughout the world and has published hundreds of articles in major business periodicals. He also holds numerous directorships, and is a major benefactor of education and cultural life in New York and Israel.
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