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How the Rich get Richer, Epicurean Edition
Why does Goldman Sachs always top the M&A league tables, when other banks' ideas are just as good? Why is Jessica (Mrs Jerry) Seinfeld's new book suffering from too much demand, when an almost identical book by Missy Chase Lapine lags far behind? The Epicurean Dealmaker has the answer:
At the end of the day, a client trying to decide between two bankers for an M&A assignment is often stumped. As far as the client can tell, the finalists are completely indistinguishable, equally talented, and equally plausible—both perfectly acceptable candidates for the final nod. At that point, the client often makes the decision based on the name on each banker's card. No, not that name, silly. The name of his or her investment bank.
I imagine the firm of Missy, Chase & Lapine lost to Seinfeld LLC for the very same reason.
Do you think if second-tier investment bankers managed to get onto Oprah, they would get more dealflow?
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