William D. Cohan Quotes

William D. Cohan — American Author

William David Cohan is an American business writer. He has written books about Wall Street and the financial industry and has contributed to numerous periodicals and appeared on various cable TV and radio programs... (wikipedia)

Having worked at four separate Wall Street firms, having seen a variety of talent at those places, and having competed against Goldman as a banker, one thing you have to be struck by is the power of their recruiting.

Generally speaking, they have as many stars as other firms, but they are low-key about it, because that's not the Goldman way, but their bench is a lot deeper. I think Goldman has as many A players, but more importantly they have fewer C players. And no firm, I have noticed, has the depth anywhere like that.

People are pretty simple: they do what they are rewarded for doing. If they get multimillion-dollar bonuses by taking huge risks with other people's money - as they still do - then they will continue to take those huge risks, and not give it another thought.

William D. Cohan Quotes

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