Liar's Poker: Rising Through the Wreckage on Wall Street Review
This book is an excellent look at the culture of the 1980's investment bank, primarily, the now non-existent, Salomon Brothers. This book takes the reader through the training program at SB with the author Lewis. Liar's Poker does a great job describing the characters in this investment house as well as the insanity that occurs on a daily basis at the trading desks and the woeful decisions by the CEO's of these banks.
The look at SB was hilarious in its time, but now it is an excellent view of the creation of the Mortgage Backed Security and the large market of home loans that was created. This gives the reader a firsthand view of events that would eventually lead to the credit crisis of 2007-2009.
In standard Lewis fashion the reader is given an easy to understand explanation of complicated financial transaction and markets, even the unsophisticated person can read this book and understand the happenings of the markets.
I recommend this book; it is a great way to become familiar with Wall st and its interworkings.
Liar's Poker: Rising Through the Wreckage on Wall Street Overview
In fiction there was Bonfire of the Vanities; in reality, there is Liar's Poker--the fascinating insider's account of what really happens on Wall Street. This irreverent and hilarious birds-eye view of Wall Street's heyday will appeal to anyone intrigued by the allure of million dollar deals. Now in trade paper. First serial to Manhattan Inc.
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Customer Reviews
Liar's Poker - Darrel William -
Great bookLiar's Poker. It teaches a lot about the bond market, how the market works, and what bonds are all about. The book talks about market fools, and how the pros in the bond and equity markets make money off the market fools. Until I read this book, I didn't realize that I'm a market fool. This book has changed the way that I look at investing.
Abridged Audio CD Too Short, Author Doesn't Read It Well - A Tough Critic - California
I don't like buying abridged editions, and only did so here because I didn't see an unabridged CD of this book. This one proves why: too short and choppy, and you can tell that much is being left out. In addition, while the stories are interesting, the author's voice is quite incompatible with the material he's reading, and therefore a distraction. (If you want to hear the perfect Audio CD, try the unabridged Angela's Ashes, read by its author Frank McCourt ... pure magic. I'd venture to say you cannot truly understand from any other format what this incredible storyteller is trying to convey. You'll want to start it over as soon as it ends.)
Great read - Colin@NYUpoly -
This book had me after the first chapter, which left me with the hair on the back of my neck tingling with excitement. Michael Lewis is a great story teller and since he was on ground zero for Salomon brothers during their early years it gives him a massive amount of insight. This book is hilarious to read because it documents the mortgage trading culture wonderfully during its infancy...and explains how salomon bros sowed the seeds of it's own destruction early on with poor business practices while simultaneously creating the dangerous market of mortgages and derivatives. Excellent to read, complex but in layman's terms, and most importantly it is organized like a good novel: complete with beginning, middle, and end. I highly recommend this book for not only its informational value, but for its entertainment value as well.
*** Product Information and Prices Stored: Sep 07, 2010 18:17:06
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