Logo: Cover page of second edition
Britain is a country with an exceptionally large and well-developed "financial tail" that frequently wags an underweight "industrial dog". The City of London is such a dominant and pervasive part of UK life that it is easy to forget that this is not the natural order of things. No other nation has so successful a financial sector and in no other nation is the financial centre so powerful relative to the rest of the economy.
How did the City achieve this status? Exactly how do the big investment institutions exercise their controlling influence over British industry and commerce? Does the City still have a life of its own or, in a reversal of history, does the overwhelming influence of the American investment banks mean that London has become little more than a colonial outpost of Wall Street?
This book tackles these broad issues and, through a step-by-step analysis of the current institutional investment and investment banking scene, offers answers to several important questions including:
- What motivates institutional fund managers and how do they make their decisions?
- What do investment analysts actually do and why do they get paid so much for doing it?
- What about companies turns institutional investors on - and off?
- Why does the City neglect smaller companies?
- What is the "New Industrial Compact" between "UK plc" and the City and how does it work?
"The City: Inside The Great Expectation Machine" is aimed at anyone who is already conversant with the absolute basics of stock market investment and City practice but wants to know much, much more.
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