 The Wild Wild World of Wealth |
RIBs have nothing to do with greasy comfort food from smoke houses down south. RIBs are Recovering Investment Bankers. After toiling for years in the spreadsheet gulags of investment banking, they trade annual bonus fights for the formulaic indifference of commission-based pay.
Gone are the discussions with CFOs about the cost of capital. Now, these ex-bankers advise on issues of personal finance. RIBs understand balance sheets inside out. They’ve probably forgotten more about corporate analysis than most of their broker brethren will ever know. But RIBs see “danger under every rock” and often overlook good investments because they are not great at taking and managing risk.
Check back again as we continue our presentation. Once the series is complete, we will post our complete white paper on the Top 10 Species of Stockbrokers.
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Jimmy Cusack is the tough kid from a blue-collar neighborhood who made good on Wall Street. Well, almost. After a sterling start to his career, things have soured. His hedge fund has collapsed. The bank is foreclosing on his condominium. And his wife is three months pregnant. That’s the good news.
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