Paths Diverged

In Old, New Media

  Larry Marcus, who left Wall Street for a venture-capital career in San Francisco, boasts that he hasn't had to wear a suit in six months. He doesn't have to. That’s for “pencil pushers” who toil as analysts on the street.

   Like his older brother

  Andrew Marcus in fact is the typical Wall Street stock research analyst button-down performance-based and living in Wall Street's paper bedroom community Greenwich Connecticut Drew as he is better know begin covering broadcasting company stocks in the early 1980s and is one of Wall Street's best-known media analysts. Yes he wears a suit.

  If this sounds like the grist for a modern Family Feud on the Street - New Economy younger brother vs. the Old Economy older brother - well, it hasn’t quite gotten to that point. But the two brothers’ paths in the high-finance world do shop the tugs of the New Economy vs. Old these days, and how the two sides of the Street often intersect. The brothers, when they’re not sneering goodnaturedly at each other’s jobs, keep finding themselves running into each other, and helping each other.

  The brother’s competition is Wall Street’s version, on a lower level, of the Williams sisters, who made history recently by playing against - and with - each other at Wimbledon.  Their father didn’t know who to root for when they squared off.

Brothers Provide Sibling Street Saga

  The Marcuses‘ father, Peter Marcus is an Old Economy stalwart; he has spent virtually everyday of his working life as an analyst who has had his arms wrapped around the steel industry.   It came as no surprise to him that Andrew would follow his footsteps and Larry was another story.

  “I wouldn’t have done it,” said the father of 35-year-old Larry’s current New Economy adventure. “But he understood all the shades of gray, all the issues and he’s a grown-up guy and the is his vision,” he said.

  The father might, in fact, have indirectly encouraged the younger brother’s move,

“Growing up, our father always said he didn’t care what you did,” recalls 38-year-old Andrew, “as long as you were the best at it.”

  Larry took that to heart. When not focusing on the latest venture-capital investment, he plays the drums in a rock ban with venture investor Roger McNamee that has jammed with members of the Grateful Dead and has played for President Clinton.

  There was a brief moment of family togetherness, before the brothers went their separate ways in business, when they worked  together  at  Deutsche  Bank  AG’s

MONDAY, JULY 24, 2000


Staff Reporter of the Wall Street Journal

Sibling Rivalry: Larry Marcus (left) chose the New Economy; brother Andrew Marcus thrives in the Old.