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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. What is the name given to the junk bond seminar that Michael Milken speaks at every year in Beverly Hills?
2. Mark Smith enters the mortgage department in 1985 and is considered a _____ by the author.
3. CMO's are divided into slices, or _____.
4. According to the author, what is a symbol of Britain's long economic decline?
5. Drexel Burnham runs an ad in the Wall Street journal showing two men _____.
Short Essay Questions
1. What is happening in colleges in Britain by the end of 1986?
2. What is the particular need of thrifts in terms of investing in the mortgage bond market?
3. How is Howie Rubin thought of at Salomon Brothers? Why?
4. What is the "gospel according to Ranieri"?
5. How does Lewie Ranieri feel about Michael Milken? How does this differ from John Gutfreund's opinion of him?
6. Does Michael Milken consider himself a part of Drexel Burnham?
7. What is a tombstone and how does it apply to the German interest warrant created by the author and Alexander?
8. As the author gains more experience working in London, what does he think interests European traders that differs from American traders?
9. How does Bear Stearns take the $250 million loss that Howie Rubin incurs at Merrill Lynch?
10. Why do thrifts come back for more, even though they don't understand what is happening to their loans in the mortgage bond market?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Describe the author's first day at work at Salomon Brothers. What is his perception of the physical street called Wall Street? What is he there to do? What is the difference between his arrival and the other people in his position?
Essay Topic 2
How does the game of Liar's Poker have the feel of trading? Describe how Liar's Poker works, the list of questions a bond trader asks himself, and list some of the other firms besides Salomon Brothers which have similar games.
Essay Topic 3
According to Andy Stone, what effect does Wall Street's tendency to make its best producers into managers have on firms? What happens to managers once they achieve the position? Is it a good system overall?
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This section contains 819 words (approx. 3 pages at 300 words per page) |
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