If you are old enough to remember the iconic Alex P. Keaton character from Family Ties, plus have been following markets the past two decades, this tongue in cheek piece by The Reformed Broker, will tickle your funny bone to the extreme. It takes a look at what Alex's journey would have been like in the 2 decades after securing his dream job in 1989 at a major Wall Street investment firm.
In the final episode of Family Ties, which aired in the spring of 1989, Alex P. Keaton (played by Michael J. Fox) was en route to his dream job at a major Wall Street investment firm after graduating college. He was 23 years old and had spent the entire Reagan decade preparing for his yuppie ascendance. Let's take a look at Alex's career in finance over the ensuing two decades...
1990 - 1993: Alex makes his bones as a junior investment banker at Lazard Freres & Co in New York. His team takes advantage of the Savings and Loan crisis in which 787 deposit institutions failed costing almost $100 billion to mop up by snagging real estate all over the country at pennies on the dollar. Alex is in his mid-20's and still rocking the suspenders/white collar-on-blue shirt look.
1993-1996: An explosion of more than 500 Initial Public Offerings finds Alex riding high as an underwriter at Merrill Lynch. He takes a myriad of deals public including Boston Chicken, Snapple Iced Tea and Callaway Golf to name a few.
1998: Alex is now operating out of Silicon Valley as a research analyst/investment banker for Thomas Weisel. The deal flow is fast and furious and Alex is in a position to both bring web companies public and then 'rate" them on the sell side. It's a win-win for both the bankers and the companies...not so much for the retail investors who buy in the secondary.
Follow the link for the rest... haha.
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