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39 of 42 people found the following review helpful:
5.0 out of 5 stars
The glorious 1980s, 9 Feb 2004
This review is from: Liar's Poker: Playing the Money Markets (Paperback)
I have been meaning to read Liar's Poker since I was offered the opportunity to sell my soul to the international money markets ten years ago. Well I finally got round to it. Michael Lewis writes an enthralling fast paced account of life on Wall Street in the hedonistic '80s. I could associate with many of the characters he describes, although a little of the largese is not quite as apparent in today's world. Nevertheless, the desire to get on, the "win at all costs" mentality, and the beating up of the new boy is all alive and well. If you are searching for a justification for the existence of people who make a huge amount of money out of a bit of financial alchemy, you won't find it here (or, truth be told, in any book written by anyone who still has the faintest grip on reality). But as a guide to the sort of people that inhabit Wall Street and The City there is none better. A page turner if ever there was one.
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2 of 2 people found the following review helpful:
5.0 out of 5 stars
I loved reading this book, 15 Nov 2009
This review is from: Liar's Poker: Playing the Money Markets (Paperback)
I found this book very good to read especially during the current financial crisis. Even though the author wrote it in the 80s, it shows the culture and business of investing. The author used to be a bond salesman in the New York and London offices of Salomon Brothers. The description of the S&L crisis is in a way similar to the subprime mortgage crisis of 2008. The greed and obsession with money made both crises possible. After reading this book, I realized that no matter how much regulation we have, we will experience similar events. Yesterday, it was the S&L crisis, today it is the subprime mortgage crisis, and tomorrow the greedy minds of Wall Street will create something even more interesting that will have more devastating effects. For those who are not familiar with the business of high finance, this book will be an eye-opener. It shows what traders, salesmen, and executives of Wall Street firms do every day to make money by taking huge risks with the hope of a payoff. I absolutely loved this book and highly recommend it. - Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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7 of 8 people found the following review helpful:
4.0 out of 5 stars
An honest account of the money markets and city life, 12 Aug 2001
By A Customer
This review is from: Liar's Poker: Playing the Money Markets (Paperback)
Michael Lewis reveals his personal opinion of life at Salomon Brothers in the 1980s. He is honest and highly readable in his account of the people at the firm, the self-destructive nature of decisions made by top bosses and how people like Lewie Ranieri built up the incredibly successful mortgage department, only to see it destroyed by the firm itself. Lewis reveals the rigours of the training programme, why Salomon was the best at the time, the goodies, the bad-boy traders and his allies. He details his mistakes, his regrets and how he became so successful within two years at the Bros. yet still decided to leave. A gripping read, thoroughly recommended to any prospective trader or bond salesman.
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