Fortune Magazine, Analyst, Barney discussed on Rich Dad Radio Show

Automatic TRANSCRIPT

Street in which no one was negative and so sort of made my name for myself as not woman is negative and hopley was more often than than i was wrong and so with given the responsibility of running the research business it was called sanford bernstein maybe my name because i've you the businesses we were in a couple you know two of them investment banking which in which you have companies as clients and the research business in which you have individuals client it's fundamentally in conflict that if you were doing a good job for one you want to get you up for the other i pulled us out of the investment banking business different from everybody on wall street which was a huge move nobody wanted to do that at your company right well it was a huge risk we lost millions of dollars and i kept playing yes so if we're tying to companies to issues the high one a retail you know individual investor clients to buy stock low i who am i serving i don't understand so we lost dollars everybody said i was job people said i was gonna lose my job and then the the nasdaq crash of the early thousand passes and the conflicts were with the old in emails at other firms had been saying oh well you know screwed a little guy not in those exact words and i ended up on the cover of fortune magazine is the last honest analyst so that was a big big deal in my life i was invited to run this barney which was part of city and the city private bank by sandy weill had a terrific run there up until the crash of two thousand seven two thousand eight when i discovered that we had sold products to our clients but when believed were low risk but we're high risk and that we believed would go down a few cents but went down all of their cents on the dollar and this is this is a great story sally because you as an as an analyst you thought that the the.

Coming up next