EditorReviewz.com
August 19, 2010
Book Review: The Zeroes
By Wayne Hurlbert
"No one had yet developed a name for this era, this decade with the once-in-a-millennium calendar quirk of two zeros perched in the middle. As I gazed across the room in front of me, "the Zeroes" seemed fairly spot-on", writes journalist, entrepreneur, and editor-at-large of The Daily Beast, Randall Lane, in his fascinating and entertaining book The Zeroes: My Misadventures in the Decade Wall Street Went Insane. The author captures the spirit of the Zeroes decade through the eyes of a struggling publisher of magazines devoted to chronicling the leading denizens of Wall Street.

Randall Lane had a ringside seat, literally, to the over the top greed and excess of the Zeroes decade. As the host of the Wall Street boxing extravaganza that opens the book, Lane’s now defunct Trader Monthly magazine peaked in 2007 with the stock market. The boxing matches provide a powerful metaphor for the excessive risk taking of that now bygone era. The time when Wall Street traders were hailed as rock stars, in the pages of the author’s luxury market magazines, came to an end with the collapse of financial titans like Bear Stearns and Lehman Brothers. The crash on Wall Street also spelled the end of Randall Lane’s magazine empire. From start-up to influential Wall Street kingmaker, the story of Randall Lane and Trader Monthly magazine parallel the rise and fall of the trader culture.

Randall Lane and his flagship Trader Monthly and Dealmaker magazines may have glamorized the life of Wall Street traders and private equity tycoons, but in the end Randall Lane never internalized the entire Wall Street ethos. Perpetually under-capitalized and always one step away from financial disaster, Randall Lane and his partners in Doubledown Media...

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