Customer Reviews


95 Reviews
5 star:
 (55)
4 star:
 (20)
3 star:
 (13)
2 star:
 (3)
1 star:
 (4)
 
 
 
 
 
Average Customer Review
Share your thoughts with other customers
Create your own review
 
 

The most helpful favourable review
The most helpful critical review


25 of 26 people found the following review helpful
4.0 out of 5 stars A classic with a new relevance today
Lewis' 'Liar's Poker' was an instant classic upon publication. Yet it had an adverse effect: instead of being read as the critical account it was intended to be, an entire genereation of investment banker's used this book as a 'how to' guide and a prime resource of information on how to survive on Wall Street or in the City of London.

At present it attains a...
Published on 29 April 2009 by P. Bade

versus
1 of 1 people found the following review helpful
3.0 out of 5 stars Very average, overrated..
I read this book 4 years ago because it was one in a list recommended by a trader I respected. I had heard of it before and was aware it was a 'traders' book to read and has received many good reviews.

I've read many trading books from eg the classic Market Wizzards to recently Pit Bull, but was disappointed to find this book isn't really about trading or 'real...
Published 5 months ago by Mr. R. O'regan


‹ Previous | 1 210 | Next ›
Most Helpful First | Newest First

25 of 26 people found the following review helpful
4.0 out of 5 stars A classic with a new relevance today, 29 April 2009
By 
P. Bade (UK) - See all my reviews
(REAL NAME)   
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
Lewis' 'Liar's Poker' was an instant classic upon publication. Yet it had an adverse effect: instead of being read as the critical account it was intended to be, an entire genereation of investment banker's used this book as a 'how to' guide and a prime resource of information on how to survive on Wall Street or in the City of London.

At present it attains a new relevance: the book can be read as am account of the culture that lead to the problems in the financial system.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


9 of 9 people found the following review helpful
4.0 out of 5 stars More fun than serious, 23 Aug. 1998
By A Customer
Anybody looking for a sober review of the financial markets in the 1980's and/or Salomon Brothers' role in it will be disappointed. However, as a review of one man's experience on Wall Street, it is suoerb. Michael Lewis is a wonderful storyteller, and he writes this book so that you don't need a deep knowledge of finance to enjoy it.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5 of 5 people found the following review helpful
4.0 out of 5 stars Intensely Prophetic, from a 2011 perspective!, 16 Nov. 2011
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
Just finished it: My second Michael Lewis read (my first being The Big Short) and another highly enjoyable, amusing and insightful take on how Wall Street and, in particular, the bond markets operate. While possibly a bit slight on the technicalities and a bit heavy on the gossip (hence the four star rating), it nevertheless achieves what I believe was its primary aim; to open up up Wall Street to a wider public viewing. Despite the fact that it was published circa 1988, it includes some very portentuous observations, that are absolutely relevant to the US and Europe's current economic standing. Pity I didn't read it all those years ago; I could have made a small fortune working off its predictions. Roll on to Lewis' next tome. I'm now a total convert
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


3 of 3 people found the following review helpful
4.0 out of 5 stars Still relevant, 12 May 2012
By 
Marand - See all my reviews
(TOP 100 REVIEWER)   
Verified Purchase(What is this?)
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
At times it is hard to remember that this book was written in the late 1980's. For all that, it still has relevance today inasmuch as the impact of some of the attitudes and behaviours described in the book were implicated in the most recent financial crisis. He succinctly conveys the problems of short-termism, conflicts of interest and the duping of investors (although I have limited sympathy with the investors who should really have known better and questioned more), issues which are still being discussed twenty five years on. Lewis is also pretty scathing about those at the top who appeared to have little knowledge or understanding of the activities of their traders and salesmen. He notes the speed with which raw, inexperienced trainees became 'experts' trading vast sums. Lewis's own rise up the organisation was fuelled in large part by one transaction.

One of the things that Lewis examines is the creation and development of the mortgage bond market, and the slicing and dicing of mortgages to be sold on to investors and which of course were implicated in the sub-prime mortgage crisis. Although there is a fair bit of detail, I didn't find it to be too technical nor overwhelming. Lewis writes well and provides enough detail for the lay man, but not too much.

On the whole I found this to be a very readable account and have been spurred to order Lewis's later books. His aim was to open up the activities of Wall Street & the Square Mile to the wider public and I think he achieved that objective.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


28 of 31 people found the following review helpful
5.0 out of 5 stars great picture of certain events, at a certain time for all interested in investment banking and finance, 26 Feb. 2008
By 
Michal Lasocki "Michal Lasocki" (Warsaw, Poland) - See all my reviews
(REAL NAME)   
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
Liar's Poker offers you a journey into the world of a sophisticated money-making machine: a global investment bank.

As an ex- Bankers Trust employee, I can claim I have met many people similar to the characters in the book, and I can say the characters, events, their habits appear very well pictured. Even though it is technical at times, this book is light years away from many boring books like "see how smart I was making my fortune".

This book explains a lot about how money was made and lost during these times. It gives examples of strategies and market context. More importantly it also shows you of people's greed, fear and the consequences of that. It illustrates relations within junior and senior staff in a bank like this in a very honest way.

The most exciting thing about it is that the author keeps a distance to events, millions of profit, important people and institutions mentioned in the book. Few of people working inside such an institution can say that.
I have recommended Liar's Poker to some people, and it seems it has changed the way they see their jobs and careers. Finally, this book makes you think - that is what good books are about.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
3.0 out of 5 stars Very average, overrated.., 23 Nov. 2014
By 
Mr. R. O'regan (Your mum) - See all my reviews
(REAL NAME)   
Verified Purchase(What is this?)
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
I read this book 4 years ago because it was one in a list recommended by a trader I respected. I had heard of it before and was aware it was a 'traders' book to read and has received many good reviews.

I've read many trading books from eg the classic Market Wizzards to recently Pit Bull, but was disappointed to find this book isn't really about trading or 'real traders'. It;s more about brokers.

It does give a reasonably interesting account into the life of Lehman Bros in the early days. In that respect I found it a fairly interesting history lesson of a world I never knew about.

Perhaps I'm being harsh as I'm judging the book purely from it's benefit to me as a trader, of which it was no use.I don't know know why this book is recommended as 'essential' reading for traders.

Listen, if you are a real trader, or want to read a book about trading, I suggest read some of the other classics.
If you are interested in the history, world and characters of the financial past, I suspect you will find this book interesting.

P.s. please let me know if you find this review helpful to you because I have read many more books on trading , some of which are real gems and I can write a review on them to help you decide.. just it takes quite a lot of time and only want to do if of use to someone :)

It wasn't for me.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


2 of 2 people found the following review helpful
5.0 out of 5 stars A Superb Story, 10 Aug. 2009
By 
Mr. Bilal Mussa "bilalmussa" (Leicester, England) - See all my reviews
(REAL NAME)   
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
A superb story from one of the employee's of the greatest banks to ever be established on Wall St. Once my lecturer recommended it to me i knew i had to read and thus i conclude by saying that it was well worth the time spent reading. I did not only learn about the insides of an investment bank and the daily work carried by them but also skills which will be of much use in the future. This is a must read for any student studying Economics.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


6 of 7 people found the following review helpful
4.0 out of 5 stars Great read, 17 Nov. 2009
By 
K. Birznieks (Latvia) - See all my reviews
(REAL NAME)   
Verified Purchase(What is this?)
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
Compared to the Barbarians at the Gate - the best book on the greed and ambition of the financial world, that I have ever read - I would give 4 stars to the Liar's poker. It's also a great read (no wonder that author has been working as a journalist for a time), but it lacks the quality of backgrounds for people, companies and events that Barbarians at the Gate provides. Sometimes, author also moves away from the main topic and the general thread is lost to the reader.

Nevertheless, it is probably one of three must-read's for anyone interested in financial inovations and excessees of the 80-ies: Barbarian's at the Gate (corporate finance), Liar's poker (bonds/mortgages) and Predator's ball (junk bonds).
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Making money shout abuse, 29 Dec. 2011
It is useful before you begin this book to read the glossary of terms, banks and jargon at the end of the book. It is indexed in the table of contents.
As I read this sometimes breathless eye witness account of Investment Trading during the 1980s I found myself thinking that it was almost like reading a modern day version of the Sorcerer's Apprentice... and even found myself humming,... `The runaway train...'. Lewis describes his recruitment and training among the brightest of the bright from American colleges to make... money. I found the first third of the book describing the selection, training and work place allocation of young, testosterone fuelled white males both convincing and shocking. They were not being prepared for banking but for the financial equivalent of bare knuckle cage fighting on the `bond market trading floor'. They were young men out of control and without control both in terms of their trading activity, gluttony and vicious practical joking. The lists of names are hard to follow but the in-house Mafia like loyalties and feuding well described.
In the second third Lewis reports on Mortgage Bond Trading spawned and developed at Saloman Brothers, which was to become the bubble of cutting / slicing/ filleting / selling and trading mortgage debt as assets that, as sub-prime lending continues to haunt money markets.
It is not until Lewis is 60% into the book that reports his 1985 personal journey through Saloman Brothers bond trading office in London, the self-induced decline of the firm itself, due primarily to losing its staff to other trading firms offering greater rewards and with more predatory instincts.
It is a well written, pacey read with real, but frightening to think of, characters and appetites that changed, and still continue to change our world without our consent. RCP
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


4.0 out of 5 stars Greed and Disgust, 6 July 2010
This review is from: Liar's Poker (Hodder Great Reads) (Paperback)
Finished Lewis' "The Big Short" and was really looking forward to this book. It's a thoroughly enjoyable read and definately a must if for any city worker in the modern-day rat race. There are some superb moments of both humour and descriptive sublimity to portray a mental potrait for the reader of the characters within Salomon Brothers' trading floor in the 1980s. It's a real elbow-to-elbow boiler room with plenty of horrible, greedy, egocentrics all clamouring to reach the next rung of the corporate ladder. Shockingly, dumping 'toxic stock' on unsuspecting investors was rife and commonly congratulated on the tannoy for this. All the more shocking now that we have seen the single biggest meltdown of the modern financial era (the focal point of the Big Short is a handful of clever firms/traders who bet AGAINST subprime when tier 1+2 banks held onto the 'mezzanine' , supposedly triple-A listed CDOs)

I am almost finished LP now and I must say, having read The Big Short, this book isn't as intelligently written (which is perfectly understandable given that LP pre-dates it by some margin so it can be argues that Lewis' writing style has'nt yet matured).

The story and characters are quite linear - it does'nt interweave stories like the brilliant Big Short but don't let that put you off an essential read for anyone within the financial world. This is harrowing, funny, shocking and very entertaining stuff.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


‹ Previous | 1 210 | Next ›
Most Helpful First | Newest First

This product

Liar's Poker (Hodder Great Reads)
Liar's Poker (Hodder Great Reads) by Michael Lewis (Paperback - 5 Jun. 2006)
£6.99
In stock
Add to basket Add to wishlist
Only search this product's reviews