Logo: Cover page of second edition

What Others Have Said About It

"The City: Inside the Great Expectation Machine", Tony Golding, 2nd.edn. 2002. www.insidethecity.net

“A thought-provoking read for policymakers and directors alike. Tony Golding gives a useful understanding of shareholder value, the drivers for fund managers, and consequent pressures for companies and directors from the institutional investors, leading to companies’ need to manage expectations but also a reduced tenure for CEOs”.
- Sir John Egan, President, CBI

"In this eloquent and intelligent book, Tony Golding shows why institutions behave the way they do, and how a knowledge of their priorities can help you."
- Shares

"A highly entertaining and particularly insightful read about what investment bankers, fund managers and investment analysts really do and what motivates them. To be highly recommended for all students of the City and an essential text for any MBA course in finance."
- Richard Taffler, Professor of Accounting and Finance, Cranfield School of Management

"Tony Golding has done us all a favour by lifting the lid on one of the best kept secrets around, which is how the City really works."
- Jonathan Davis, Investment Columnist, The Independent

"Fascinating 'anatomy' of the City, explaining to private investors how fund managers reach their decisions."
- Investors Chronicle

"I wish I'd read this book before we went public rather than after. Understanding the dynamics of the City and the interplay between the various parties is very important and this book explains these relationships very well".
- Dr.Tony Milbourn, Managing Director, TTP Communications plc

"Tony Golding's book sets out clearly how institutional fund management in Britain is subject to many differing pressures and influences. As more and more individuals become involved in portfolio investing, either on their own behalf or as trustees of pension funds, this book will explain many things that are not obvious to the outsider."
- Alastair Ross Goobey, former Chief Executive, Hermes Pensions Management

"Golding explains the ground rules with the clarity of an informed and observant insider, and few serious investors will not learn something from his book."
- Financial News

"Former investment banker Tony Golding perfectly captures the psychology (of the City) in a recent book where he explains how investment institutions and analysts over-identify companies with their chief executives and then make exorbitant demands on them"
- John Plender, columnist, Financial Times

"This book should be required reading for every pension fund trustee as well as chancellor Gordon Brown. Had it been published in time, the Treasury could have saved itself the expense of Mr Myners' first round of consultation. Now that it has been published, trustees can save themselves the cost and ideology of a National Association of Pension Funds training course."
- Pensions Management

"Tony Golding's book leads the intelligent non-City reader through the complicated field of investment banking and fund management with style, and displays a very clear understanding of the forces that have led to the rapid changes that are taking place. It should be essential reading for anyone wanting to know what goes on in the City today".
- Jim Cox, former Head of UK Equity Strategy, Schroder Investment Management

"…Tony Golding, a former investment banker,…his insightful book on the City"
- Martin Dickson, columnist, Financial Times, 2 June 2001

“This book is a thoughtful explanation of how the City’s key sectors – fund management, the sell-side, corporate finance, listed companies – operate and interrelate. It is not a salute to the City”.
- Alastair Blair, columnist, Investors Chronicle, December 2001

"This relationship between fund managers, analysts and company management has been explored with zest and insight in Tony Golding's "The City: Inside the Great Expectation Machine"
- John Plender, "Going off the Rails", John Wiley & Sons, 2003, p.148

"Tony Golding's book is a clear and valuable guide to the issues that we at BG Group face in a de-merger situation subject to the full glare of City scrutiny, particularly in regard to what institutional fund managers actually want and how best to handle their perceptions and expectations. Anyone in a quoted company - or contemplating a flotation - who needs or wants to know how the City really operates will benefit from the insights that it offers."
- Martin Houston, Vice President, Strategy and Portfolio Development, BG Group plc

"This is really the companion volume to "Survival in the City", in that it explains the broker/fund manager relationship in a readable but far more detailed manner than my own offering"
- Mrs. Moneypenny: "Survival in the City", Piatkus, 2003

"Within Tony Golding's lucid account of the workings of the City, I found, as the non-executive director of a 'SmallCap company', his explanation of the neglect of smaller companies (except when their sector is regarded as fashionable) by fund managers convincing and depressing. It must raise the question about the long-term consequences on the Stock Market itself of starving such companies of follow-up funding through the markets."
- Sir Ivor Cohen, Director, Deltron Electronics plc (quoted electronic components distributor).

"The City" by Tony Golding, which gives a rather jaundiced insider's view."
- Martin Dickson, columnist, Financial Times, 16 October 2004

"I have always liked the subtitle of Tony Golding's book: The City: inside the great expectation machine". In fact, this is a guide to institutional investment rather than to the whole City. It takes you inside all the themes running through insitutional investment, such as the importance of indices, why fund managers don't buy small-cap shares, the attributes they do like, and the relationship between fund managers and analysts".
- Alastair Blair, columnist, Investors Chronicle, December 2002

"Offers some rare and welcome straight talking from someone who has first-hand experience of how the City really operates; on the motivations and rewards which bind the participants together; on how they play their part in the relentless search for performance and wealth creation. If you want to know how the City really works then this is the book for you!"
- Les Cullen, former Finance Director of Prudential plc and Inchcape plc

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