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Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives
 
 
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Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives (Paperback)

by Mr Satyajit Das (Author)
4.2 out of 5 stars See all reviews (12 customer reviews)
RRP: £20.00
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Product details

  • Paperback: 352 pages
  • Publisher: Financial Times/ Prentice Hall; 1 edition (20 April 2006)
  • Language English
  • ISBN-10: 0273704745
  • ISBN-13: 978-0273704744
  • Product Dimensions: 23.1 x 15 x 2.5 cm
  • Average Customer Review: 4.2 out of 5 stars See all reviews (12 customer reviews)
  • Amazon.co.uk Sales Rank: 5,653 in Books (See Bestsellers in Books)

    Popular in these categories:

    #1 in  Books > Business, Finance & Law > Professional Finance > Public
    #2 in  Books > Business, Finance & Law > Professional Finance > Investments & Securities > Futures
    #85 in  Books > Business, Finance & Law > Economics

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Product Description

Review

The sexier side of finance ... at last ... a convincing picture of what life is like in today's modern financial industry. Traders Guns and Money by Satyajit Das not only has a catchy title, it actually manages to entertain, educate and inform."  Corporate Financier, July 2006

"A must read for all CEOs, CFOs, Bankers and anyone who cares about what banks are doing with their money." - Finance Asia, May 2006

"... revealing insider's account"  - Director, April 2006

"... true rarity: a derivatives book that keeps your attention all the way through. " FOW April 2006

"... a welcome addition to the literature."  - The Sheet, April 2006

"... a scalpel of a book" - Financial Engineering News, July 2006

"A distincly timely book... This makes fascinating reading.... A good crib sheet for how the whole derivatives game works. " - Financial Times, May 2006

"Forewarned is forearmed." - Money Week, May 2006

"Das is especially good on structured products and on the recently fashionable world of structured credit... a diverting read" - Financial World, July 2006

"a worthwhile read for anyone with connection to the financial world" - World Finance, July 2006

"The murky and complex world of finances and derivatives is scrupulously and frantically told in this brilliant narrative. ... This is a collection and recollection of exquisite financial tales well worth your time.' Convergence, September 2006

"...a fascinating and compelling insight into the world of derivatives... [TGM has] a page turning quality more reminiscent of a John Grisham novel than a dissertation on derivatives." - FINASIA, October 2006

"An absorbing accessible primer... scoots along at a blistering pace" - Wilmott Magazine, December 2006

Author featured as expert in Asia Risk, Bloomberg, Financial Times all in December 2006

"one of the most entertaining investment books I've read in a long time... I can't recommend this book strongly enough" - Blogginstocks Jan 07

"part thriller, part expose… will be useful for anyone with connection to finance…will tell you some of the truth of what really does go on." Society of Business Economists Book Review - Jan 07

 



Frank Partnoy, author of F.I.A.S.C.O and Infectious Greed
Make room for another must-read on the shelves of any City or Wall Street trader, salesman, or victim.

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Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

12 Reviews
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Average Customer Review
4.2 out of 5 stars (12 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
42 of 43 people found the following review helpful:
5.0 out of 5 stars Good fun for all ages., 18 Jul 2006
I've read many books on the markets--both anecdotal ones such as Mike Lewis's "Liar's Poker" and Frank Partnoy's "F.I.A.S.C.O." and more academics ones such as Mark Anson's "Handbook of Alternative Investments" and Alexander Ineichen's "Absolute Returns". Never, though, have I read one as well-balanced as Satyajit Das's "Traders, Guns & Money".

Mr. Das has something that other writers lack: range and depth of experience. He's written many academic texts on derivatives and is a 25-year veteran of the industry--and it shows. He's been on the buy-side, sell-side, middle-man and consulting and he doesn't pull any punches as he describes the players' motivations, personalities and inherent weaknesses. He also has a quant's understanding of the various products and permutations out there, but in explaining them he always takes the language back to Earth--which is a boon for all readers.

If you're at all interested in structured products (this includes Principal Protected Notes), derivatives or financial engineering, and whether you're at the start or end of your financial career you'll find this book interesting, enlightening and downright fun.
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16 of 16 people found the following review helpful:
5.0 out of 5 stars An Informative and Entertaining Reading Experience , 12 April 2007
By Hedge Fund Analyst (Miami, Florida USA) - See all my reviews
I really enjoyed reading the book Traders, Guns, and Money: Knowns and Unknowns in the Dazzling World of Derivatives by Satyajit Das. It is an interesting book in that it is a fictionalized autobiography of Das. As the book outlines the author's professional life in finance, it describes how he got involved in financial derivatives. The primary purpose of the book is to give a primer on derivatives, how they were created, how they are used, their benefits, and their dangers. The author's use of humor along with the hilarious vignettes of his finance associates (Nero, Clem/Crem, Adewiko, Budi, etc.) and funny anecdotes from his career made the book fun to read.
The book really helped explain what exactly derivatives are (giving me a good review of some of what I was taught in college) and how they are used today. I also appreciated the in-depth analysis of several well-known instances where derivatives were used by investors and companies which really helped to demonstrate their application in the real world as well as the oftentimes hidden dangers of using these financial tools. I found his discussion of the currency swap done by the Walt Disney Company in the 1980's to be of particular interest to me. Despite the fact that I previously read the HBS case study during a Derivatives and Risk Management course which I took as a student at Harvard, Das's explanation of the incident really gave me an even better understanding of how exactly the transaction was structured and how it eventually went wrong. His explanation of why Disney's financial advisors made the deal so complex was also amusing. (You will have to read the book to find out.)
Moreover, Satyajit Das really underscored the complex nature of derivatives and their use in either speculative bets or in hedges. Previously, I had considered these financial tools as an efficient and safe way to hedge. However, the author points out that there are significant risks even when they are only utilized as a hedge.
Hence, I really enjoyed this entertaining and informative book. The author explains complex concepts in a clear, readily understandable, and comical way. I would recommend this book to anyone who wishes to learn more about financial derivatives or the world of finance in general and who does not mind being entertained at the same time.
Thank you for your time.
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14 of 14 people found the following review helpful:
5.0 out of 5 stars "Stunning", "Electrifying", "5 Thumbs Up!!", 23 Jul 2007
By Gordon Niamatali (Tokyo, Japan) - See all my reviews
(REAL NAME)   
Das' sardonic description of the derivatives industry provides an extremely entertaining new approach to a genre saturated with glorified good fortune and dire warnings of imminent market apocalypse. The comically acid tone with which he describes every element of the business (from front to back-office) has much more in common with Jon Stewart's "Daily Show" than the academic tomes on credit derivatives and structured products that preceded it.

If you are considering a career in investment banking, this book is required reading. Along with an incredible introduction to derivatives and their impact on financial markets, "Traders, Guns and Money" touches on the frustrations involved in working at every level of the bank, describing the internal friction and disparity between support functions (product control, operations, accounting, risk control... the almost always overlooked segments of the firm that comprise the majority of people at any bank) and the front office traders with a surprising degree of insight.

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Most Recent Customer Reviews

1.0 out of 5 stars Hard work!
Make no mistake, if you,re not a hardened professional this book will go over your head! Ive traded futures with my own funds on various platforms and this book went over mine!
Published 3 months ago by Jack Calder

5.0 out of 5 stars Make a difficult subject an attractive reading
For me the world of derivatives are a known unknown and after reading the book, it remains like that. Read more
Published 16 months ago by Luis Mansilla Miranda

2.0 out of 5 stars Disappointing
I wasn't too impressed by this book. I loved FIASCO and I generally enjoy books such as Liar's Poker, Ugly Americans etc, but this was quite a let down. Read more
Published 20 months ago by chris

5.0 out of 5 stars Please read this... but now where do you invest your pension?
Entertaining, insightful, skeptical rather than cynical. This book opens the can of worms that is Derivatives and those that peddle them. Read more
Published 20 months ago by Norfolk Chance

5.0 out of 5 stars This book is a risk free investment of time and money
Traders, guns and money is an entertaining foray into the complex world of financial derivatives. Satyajit Das manages to take a topic, that has sent countless students to sleep... Read more
Published on 17 May 2007 by Anita Yadav

5.0 out of 5 stars A great entertaining read
As someone who has had a 360 degree view of the investment banking industry, Das pierces through the smoke and mirrors and conflicts of interest that prevail in the industry with... Read more
Published on 7 April 2007 by Craig

2.0 out of 5 stars Read it with a grain of salt
The book is readable, but the author often makes factual mistake. Early in the book, he calls Alan Greenspan as the chairman of New York Fed. Read more
Published on 27 Feb 2007 by T. Okubo

5.0 out of 5 stars An absolute (and pleasurable) must
I cannot recommend this book enough to anyone even remotely connected to Finance, professionally or casually. The book is entertaining, witty, and very informative. Read more
Published on 30 Jan 2007 by Stephen P. Folmer

5.0 out of 5 stars The Unknown Unknown of derivatives
For a derivative trader reading a book like this is a must.
Published on 29 May 2006 by Vincenzo Riflesso

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