I was so impressed with "The Dealer", I couldn't wait to read this book - the second Kilduff I managed to get my hands on. Where The Dealer earned 5 stars in my book, this trailed behind with only 3.
This book is so long, and with so many characters that Kilduff's potential for excellent writing was far too diluted. It also suffers from a peppering of corny lines, e.g. "She knew he was ready to trade." I really can't imagine that thought entering the mind of a dealer, and I have worked in the City.
The book moves at a pace and has a mature insight and reflection on the personal to get you hooked and caring: Jonathon's (the protagonist) wife's death from cancer and the pressures he suffers bringing up two children on his own, whilst holding down a consultancy job. Nikki, his PA, was a star and the book would have benefited from more of her quirky outlook on life.
Jonathon is sent to Hong Kong to investigate the trades going through his old firm Mitchell's, particulary purchases by ABC, a supposed hedge fund (but without a rogue trader where's the thrill?) In Hong Kong Jonathon meets his first frontrunner, Lauren, who we'll come back to later - after she's been sacked of course. The rogue trader in New York commits suicide, ABC goes down the pan and global markets plummet. Markets are like that, nerves act like a virus.
The leaders of the world's main banks decide on a strategy to push the market back up. Along with Jonathon's boss - a sophisticated and poised cuticle-obsessed Swiss with an underlying greedy and exceptionally sick nature - a couple of them decide to frontrun their own strategy and make the millions/billions they lost on their "secure" investments in ABC. (Why none of them decided to murder the king pin of that fund is lost to me - surely that much money turn would them, unless they had so little left they couldn't afford the hit man.) Anyway, to frontrun they turn to the two experts (for different reasons) with whom we are familiar - Jonathon & Lauren. Set up on new lucrative and secretive assignments in Bermuda with a number of trusts to play with, they quickly work out that all is not what it originally seemed...
I think the dynamics of the market and the products could have been better explained for the mass market. But if you think of the Barings & Leeson debacle and skip, you'll be relatively OK. If you're good with names then you should manage to keep up with all the characters. Some appear cameo, but actually become integral to the plot or the downfall of the main characters. Hideously greedy and status conscious bankers, who will stop at nothing, are darkly illustrated. And if you're into global travel plans, whether by air or car across Europe (Frankfurt to Italy), then this book provides a nice travel guide.
I was disappointed at the beginning, but stuck with it. Overall it lifted by the end. Something tighter would have lifted it to the standard of his earlier work.
A decent read, but not Kilduff's best.