Amit Chatwani, long time friend of DealBreaker and the man behind Leveraged Sell-Out, is profiled in Business Week. It's such a fawning exercise that we wonder what dirt Chatwani has on the BW writer. It even describes the "origins" of LSO like he was some kind of effin superhero.
The nefarious persona began to take shape when Chatwani drafted a widely forwarded mock cover letter to Lehman Brothers Inc. (LEH ) during his senior year at Princeton in 2004. "I have been practicing staring at a computer monitor for extended hours," he wrote. "I can currently sit motionless in front of a screen for 28 hours, and I am improving daily."
The computer science grad moved to New York later that year, where he settled with 10 cub investment bankers in a Tribeca loft and marinated in their vernacular and rituals. He found himself invited to yearend bonus parties of P. Diddy-esque profligacy. Chatwani marveled at how conspicuously guys wore their firms' id badges to get a leg up in a shallow mating game. And how quality Wall Street relationship time consisted of stealing away from the office once a week to share an hour of TiVo. One paranoid banker even put together an intricate spreadsheet that handicapped co-workers' likely bonuses.
It all became fodder for what Chatwani calls his "consummate banker caricature." The site's first post told the tale of two gold-digging Jersey girls coming to Manhattan on a hell-bent mission for their dream bankers. "It got read way more than I had ever expected," he says. Lately, he's been poking fun at young bankers' penchant for exorbitant bottle service at nightclubs.
The Borat of Wall Street [Business Week]