![]() ![]() ![]() One by one, some of the most revered names in investment theory were brought into school a class of brilliant engineers, programmers, and cybergeeks on the fine art of personal investing, something few of them had thought much about.įirst to arrive was Stanford University’s William (Bill) Sharpe, 1990 Nobel Laureate economist and professor emeritus of finance at the Graduate School of Business. Company founders Sergey Brin and Larry Page and CEO Eric Schmidt were excited by the idea and gave it the go-ahead. Then, to protect Google’s staff, he proposed a series of in-house investment teach-ins, to be held before the investment counsellors were given a green light to land. Rosenberg didn’t turn the suitors away he simply placed them in a holding pattern. Morgan Chase, UBS, Morgan Stanley, and Presidio Financial Partners were already circling company headquarters in Mountain View with hopes of presenting their wares to some soon-to-be-very-wealthy new clients. They would, he feared, become the prey of Wall Street brokers, financial advisers, and wealth managers, all offering their own get-even-richer investment schemes. Originally published, San Francisco Magazine, 2006.Īs Google’s historic August 2004 IPO approached, the company’s senior vice president, Jonathan Rosenberg, realised he was about to spawn hundreds of impetuous young multimillionaires. Mark Dowie tells how Google staff received top investment advice back in 2004 (before Google IPO), what they learned and why it is difficult for the average retail investor to access sound financial recommendations. ![]()
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