Money: Angles Do Yourself a Favor!

Angles Do Yourself a Favor!

Into the meeting walks my 43-year-old friend with two Harvard degrees, partner in a well-known investment bank that, like all investment banks, is cutting back. He runs a small department that should bear much fruit in the 1990s. It specializes in financing companies related to "the environment." It's exactly the kind of investment a company shouldn't trim unless it absolutely has to.

"Well," explained my friend's boss, an even more senior partner, "we absolutely have to." He went around the barn a few times: "Conditions on Wall Street . . . Got to trim overhead . . . No reflection on...

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