This is a great book for those who love the history of the economy, as I do. Describes the fortunes of the clan Lehman, Jews, having emigrated from Germany in pre-war Montgomery, Alabama, and later New York City, and what they did as a commodity trading firm to venture capital and investment banking.
As a family business, lasted for three or four generations. There was less than a generation as a private company outside of family control. Stagnation, and must allow for liquidity which led to the need for a broader capital base, which led to the sale, American Express.
The Title comes from the life of Bobbie Lehman, who was the last family member to lead the company, which as a donor, had achieved such a position that is fear in the hearts of those who would speak, although he was a gentleman of the many concerns and a patron of the Arts in high degree.
History is Messy
How three immigrant brothers managed to create an a, especially with the original leader dying prematurely? Hard work. situated in the correct position on the right times. Their family structures held together quite well with increasing wealth, at least until the third generation.
Be realistic, and sometimes cut to their authorities. There is some evidence that brother bought at least one slave.
Goods are traded in was hot demand. He constructed a large enterprise. That had a presence in both areas for agricultural commodities, and financial capital, the city of New York, was an ideal project to have information on both sides of the market supply and demand.
However, the messiness of history is what makes this an interesting history and says the author.
Sophistry
It is a really good book. I think it is best to combined with a colossal failure of common sense: the inside story of the collapse of Lehman Brothers, because it says the end of the story better. But the beginning of the story is rich, and had done a few alternative decisions, Lehman might not have failed.
Who will benefit from this Book:
I think most investors could benefit from the book, mainly because I believe that the economic history is valuable. History does not repeat, but it rhymes lyrics, and this gives us more than a few new poems to examine.
If you want to do, you can buy it here: the last of the rich Imperial: Lehman Brothers, 1844-2008.
Full disclosure: this book was sent to me and I do not think I asked for this. I am, but they sent.
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