What is Wall Street and why are many stock masters there?

wall street is the name of a street in the south of Manhattan, new york City. It is no more than one mile long and only 11 meters wide. It is a transliteration of the English word "Wall Street". During Dutch rule, a defensive wall was built here. After the British drove out the Dutch, they tore down the wall to build a street, hence the name. This is the location of American monopoly organizations and financial institutions, and it is home to the headquarters of new york Stock Exchange, American Stock Exchange, investment banks, government and municipal securities dealers, trust companies, Federal Reserve Bank, public utilities and insurance companies, and the general management offices of banks, insurance, railways, shipping, mining, manufacturing and other big companies set up by American consortia such as Rockefeller and Morgan. Monopoly capital dominates American politics and economy from here. Wall Street has become a symbol of the high concentration of monopoly capital, finance and investment in the United States.

I have been to Wall Street twice, the first time as a tourist. It was in the evening, and it was raining cats and dogs. The rain kept pouring into the Wall Street subway station, and even the railway was full of water. Fortunately, the heavy rain stopped soon, so I carefully bypassed the stagnant water and walked slowly to the junction of Broadway and Wall Street. I looked up and saw the famous Trinity Church. As early as when Wall Street was a broken wall, it was already a landmark building around here.

At present, the Trinity Church is directly in front of the new york Stock Exchange (NYSE) and behind it is the American Stock Exchange (AMEX). There are towering office buildings on both sides, and only a small area around it still preserves the 17th century gardens and cemeteries. Crossing Broadway from the front of the church, even if you officially entered Wall Street-this street is short and narrow, with many roadblocks at the street corner, the street center is being renovated, and there are potholes everywhere. Several armed policemen stood in front of the new york Stock Exchange with a huge American flag above their heads. Besides, people in this street seem to be tourists, as can be seen from their clothes and manners. The roadside window doesn't have the names of Goldman Sachs, Morgan Stanley or Merrill Lynch, but advertisements for cafes and health clubs are posted. I haven't found the name of any investment bank here except Deutsche Bank, let alone mutual funds or hedge funds.

In a word, Wall Street is just a tourist attraction now, and hordes of foreigners often visit it with awe, hoping to see what "the financial center of the world" looks like; However, all they see is a deserted business district, several old skyscrapers, and many open-air cafes or cafes. The new york Stock Exchange is now closed to tourists, so the tourist value of Wall Street is not much left.

Later, I went to Wall Street again, this time not for sightseeing, but to listen to the preacher in Trinity Church. The building of this church is very unique, every brick and stone is worth watching carefully, and there is also the tomb of Hamilton, the famous first American Treasury Secretary, in the garden outside. A few steps away are noisy streets, and all kinds of vehicles pass by day and night, which makes the church itself more sacred and quiet. It is said that before Wall Street became a tourist attraction, bankers and fund managers often used their lunch break to pray here, and then went back to the bloody strangulation in the securities market.

As early as twenty years ago, many financial institutions have left Wall Street in the geographical sense and moved to midtown Manhattan with convenient transportation and broad vision. Wall Street is crowded with old buildings and historical and cultural blocks, and the roads are as difficult to identify as cobwebs, which really does not meet the needs of financial institutions to expand their business. The "911" incident fundamentally changed the pattern around Wall Street. Some institutions simply left the dangerous city of new york and moved to quiet and safe New Jersey. Now, apart from the Federal Reserve Bank of new york, no bank or fund has its headquarters on Wall Street. Among the famous "Wall Street Giants", only Goldman Sachs and Merrill Lynch are still not far from Wall Street, and other giants have moved to the bustling business district around Rockefeller Center, Times Square or Grand Central Railway Station; Even Goldman Sachs and Merrill Lynch have bought new luxury offices in midtown Manhattan and will soon leave the old "Wall Street" completely.

However, people prefer to call it "Wall Street". In the office of Rockefeller Center, people still read "Wall Street Journal"; At the congressional hearing, the chairman of the Federal Reserve is still concerned about "the attitude of Wall Street"; On the other side of the ocean, the highest dream of entrepreneurs is still "financing on Wall Street". No matter how far apart geographically, people still belong to the same street in spirit-on this street, salomon brothers once sold bonds to securities brokers with a basket, Morgan once held a secret meeting to save the American financial crisis, the young Weinberg once knocked on the door of Goldman Sachs (he became the legendary president in the history of Goldman Sachs in the future), and milken once distributed his junk bonds to the whole world; Decades after the death of these mythical figures, their souls are still over new york, and they are possessed by any young banker, analyst, trader, broker or fund manager to create the latest financial myths at any time. This is Wall Street.

last night, I had dinner with a fellow fund manager. He has been working on Wall Street for nearly 3 years, but there is no white hair on his temples, and his words still reveal the enthusiasm and confidence of young people. While drinking white wine, he recalled his experience in China with great interest-"When I first came to Shanghai, there was no tall building in Pudong, and now it has become like this!" Then, he mentioned that he had a conference call with securities analysts in new york when he was on a business trip in Taipei. At that time, it was still 4 am Taiwan Province time, and the typhoon was blowing outside the window, and the whole hotel seemed to collapse. "That taste is really unforgettable!" He laughed and concluded.

after talking about many work topics and political topics, I asked him, "Are you The Street Addicted?" I'm asking because there is a famous securities analysis program on CNBC. The host is a very successful hedge fund manager. He wrote a very arrogant book called "Wall Street Addicts", that is, people who are addicted to Wall Street. Every time I watch his TV program, I feel that he is like a savage, jumping up and down with a banana and yelling out his views on the securities market in sharp and even vulgar language. That expression can almost eclipse all the comedy stars in Hollywood. Many people tell me that this guy is a complete madman-but people still like to watch his programs, especially analysts, who think this Wall Street addict is really a great super-wise man. Here, is drug addict a positive word or a negative word? I don't know.

Surprisingly, the fund manager in front of me said happily, "Yes, I am a Wall Street addict. Wall Street is really exciting. You know, here, so many talented people are dealing with such huge wealth. They are creating efficiency and earning money. But most importantly, I feel that all this is very interesting. " After drinking his glass of wine, he continued in an excited tone: "Every morning, what is supporting people to get up and go to work, to manage those endless assets, and to finance those enterprises?" If you don't love Wall Street, you can't stick to it! Therefore, the only people who can make great achievements are those who are addicted to Wall Street. All the work that Wall Street does is so interesting to such people that no matter how heavy the work is, they don't feel tired. I don't know what others think, but I'd like to be a wall street addict anyway. I am proud of this. "

this is the noblest compliment to wall street that I have ever heard. Once upon a time, I have heard many people talk about their attitudes towards Wall Street: approval, longing, disdain and even hatred. I once heard an elder describe his idea of Wall Street like this: "On Wall Street, even the most junior financial professionals can get an annual salary of more than $6,, which is what makes them admirable." Oh, maybe so. For many people, salary is the only admirable factor. I still remember when answering a recruitment question of an investment bank, a friend wrote without hesitation: "The main reason why I want to join your bank is that I want to make a lot of money." Of course she's not kidding! At that time, who had heard of the commendatory term "Wall Street addict"? Who could have imagined that someone would love Wall Street from the bottom of his heart?

On Wall Street, I see that investment managers who are over 6 years old are still studying new industries and new markets with full spirit; I saw senior analysts eating a simple lunch while reading a report as thick as a brick, and even forgot to swallow it; I saw young traders still discussing trading strategies enthusiastically at the Party after work, and their smiles were so natural. This is not the case in domestic financial circles. The whole Asian financial community is not like this. My best friend once told me that his greatest wish is to work hard in finance for a few years, earn enough money, and then "do what you like". "Isn't finance something you like?" I asked him puzzled. "Of course not!" He replied without hesitation, "like everyone else, I study finance and hope to engage in finance just to make a lot of money." Aren't you like this? "

no wonder wall street can always dominate the world's financial circles. No wonder Wall Street bankers, analysts, traders and fund managers have always represented the highest level of financial innovation. Because here, bankers work 14 hours a day not only because of the pressure to complete the task, but also because of enthusiasm; Analysts read hundreds of pages of research reports every day not only to get their own salary, but also because of interest; Traders make dozens of phone calls and enter hundreds of trading orders every day, not only to deal with bosses, but also because they like trading. In a word, people here are addicted to Wall Street. I still remember the words of my teacher, a new york native who used to be the managing director of a famous investment bank: "When I first started as a bond trader, I stared at the screen for 12 hours every day and followed the track of bond interest rate changes. I know how boring this job is for a person who doesn't like bonds; But I like it. So I don't think this is a kind of torture at all! " There is no doubt that he is also an addict on Wall Street.

From 7: a.m. to 12: p.m., in every financial institution office building on Wall Street (of course, this is a broad term), the lights will not go out and the computers will not turn off. When everyone is asleep, foreign exchange traders are absorbed in doing big transactions in a distant market; Before everyone got up, the analyst was already drinking strong coffee and began to hold a routine morning meeting; While everyone is enjoying the weekend with their families, investment bankers are heading to an emerging country in the engine room at an altitude of 3, feet, preparing to discuss IPO with them on Monday-for them, this is not only work, but also life and hobbies. Wall Street's ace hedge fund manager will shout at CNBC cameras: "I'm addicted to all this!" "

incidentally, when I finished my last glass of wine and was ready to go home to sleep, the fund manager told me his favorite way to say goodbye (which can also be used when meeting): two people's right hands clenched into fists, firmly collided with each other, repeated several times, and then waved away. "Earlier, this action represented a' deal'; Now, it means' I agree with you, we are firm'! " Before leaving, he said with a smile.

I agree with his views on Wall Street, and I hope that after several years, our views will be equally firm. Countless people who are addicted to Wall Street form the financial circle-countless wealth is integrated and communicated here, countless assets are allocated and traded here, and countless people work hard here to engage in the world they are addicted to. In any case, may Wall Street make the world a better place, not the other way around.