May 2002
Analysts on trial
A typical caricature of an investment banker is an expensively
besuited man with a briefcase, Breitling watch and mobile phone,
evoking an image of wealth, refinement and arrogance. It's not a
man wearing a camel-hair coat and a lot of gaudy jewellery. But
perhaps it should be since the business of a banker is akin to that
of the stereotypical second-hand car salesman in London's East End.
Both banker and car dealer preach quality and respect for the
client but both are middlemen, squeezing profit from the two sides
of a trade.
Investment banks want both corporates and investors to like them.
But...
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