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22 of 23 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

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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 27 days ago by Mr. R. O'regan


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22 of 23 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
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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.
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8 of 8 people found the following review helpful
4.0 out of 5 stars More fun than serious, 23 Aug 1998
By A Customer
This review is from: Liar's Poker: Rising through the Wreckage of Wall Street (Hardcover)
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.
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4 of 4 people found the following review helpful
4.0 out of 5 stars Intensely Prophetic, from a 2011 perspective!, 16 Nov 2011
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
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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
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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.
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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
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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.
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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
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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.
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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
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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).
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5.0 out of 5 stars Such a shame, 29 Aug 2014
By 
Brian Pickering "bpick" (Spain) - See all my reviews
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I give it 5 stars because it is real. But it is in total an immoral story, unsavoury in the extreme. That such unpleasant people exist was news to me, but news that is therapeutic and informative. The late catatrophe among the banks is explicable in terms of mismanagement, criminality, self interest and so on. Because prejudice is so politically incorrect a book that displays the nastiness of those who offend against the law, common sense and ethics may be unpopular. My prejudice against them grew from this book and I am content with it. In some sense it is a relief to discover that these people are loutish, ill-mannered, greedy and incompetent. If they were not, it would be harder to let loose the full extent of our wrath. Michael Lewis is to be congratulated for writing it down as it happened without the varnish. The pity is that in contemorary life, it does not cause the shock that it should. The establishment wants to move on. I would like there to be a pause, a moment's public reflection, a reckoning and a collective acknowledgement of the shame that this brings upon us all. Else why read books?
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2 of 2 people found the following review helpful
5.0 out of 5 stars A must read, 12 April 2010
A very good book; funny, true, captivating and which can also teach you a few things in finance.
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13 of 16 people found the following review helpful
3.0 out of 5 stars Liar's Poker (Hodder Great Reads), 16 May 2011
LIAR'S POKER is written by Michael Lewis to document his experience of a young man's college life and the maze of choosing combination of subjects in order to earn a competitive degree in the labour market. After his experience as salesman in London where an invitation to a royal banquet gave him the link to Salmon Brothers at Wall Street.
It is a story of treachery, naivety, classroom drama and corporate staff indiscipline told in a funny manner with mischievous wit.
The practice of horse trading, mortgage financing, bond, money and stock trading and factoring were analysed minutely into its constituent elements. The ignorance of the rich public/investors of how Wall street operates makes a pathetic reading. This is a serious tutorial in MBA class delivered with humour.
Fannie Mae and Salmon Brothers were to face a financial crisis that corroborated the author's account of large scale impropriety that looked like poker's game at Wall Street.
Once you start reading the book you wouldn't like to drop until you've read the last page.
Liar's Poker (Hodder Great Reads)
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Liar's Poker: Rising through the Wreckage of Wall Street
Liar's Poker: Rising through the Wreckage of Wall Street by Mm Lewis (Hardcover - 24 Jan 1990)
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