John Gutfreund Quotes
Shareholders share in the downside and not necessarily in the upside; that's the whole story.
Citations
Lewis, Michael. Liar's Poker: Rising through the Wreckage on Wall Street. W. W. Norton & Company, 1989.
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John Halle Gutfreund was an American banker, businessman, and investor. He was the CEO of Salomon Brothers Inc, an investment bank that gained prominence in the 1980s. Gutfreund turned Salomon Brothers from a private partnership into a publicly traded corporation, which started a trend in Wall Street for investment companies to go public. In 1985, Business Week gave him the nickname "King of Wall Street".