There are two books in this one book. One, as the title suggest, is a story of changes in NASDAQ and the other is unnamed book “lessons for CEOs”. I found the unnamed book to be more interesting. The best advice for the CEO of a listed company is in the first paragraph of page no 223.
Greifeld, the author, joined NASDAQ in 2003 as CEO. NASDAQ was reeling. Dot-com bust had dried up the IPO (initial public offering) market. He was mandated to take NASDAQ from non profit to for profit along with host of other things. Author went on to work at NASADQ for next 14 years during which he went on to become the Chairman of NASDAQ. During the period he helped Congress and the Securities Exchange Commission overhaul and modernize financial regulations, made NASADQ technology friendly (the role of technology in stock exchange is mind blowing), faced Lehman brothers collapse and ensuing financial collapse, and the famous collapse of
Facebook IPO among other very important events of financial world.
The competition among various stock exchanges to hold on the listed companies, and pitch for new IPOs makes an interesting read. The book is a masterclass lesson in merger and acquisitions. The advice “Don’t make big decisions when jet lagged” for international deal makers, can save lot of careers. During his tenure at NASDAQ, the author did more then 40 acquisitions, and it reflects in clarity in his writings on the same.
The book covers how last minute government/political intervention can harm best of the deals and the work of months can just go down the drain. Last, but not the least, the one thing that stands out in the book is man management skills which makes a CEO successful.
The simple language in which complicated points have been explained is commendable. And one line that will make Indians smile is, “Unfortunately, in New York, as soon as possible, could mean anything.”
-Book: Market Mover: Lesson from a decade of change at NASDAQ
- Author: Robert Greifeld
- Publisher: Hachette
- Pages: 288; Price: Rs 599