Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives Paperback – 20 Apr 2006
- Choose from over 13,000 locations across the UK
- Prime members get unlimited deliveries at no additional cost
- Find your preferred location and add it to your address book
- Dispatch to this address when you check out
There is a newer edition of this item:
Frequently Bought Together
Customers Who Bought This Item Also Bought
Enter your mobile number below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
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
From the Inside Flap
Warren Buffet once memorably described derivatives as "financial weapons of mass destruction". Read this sensational and controversial account of the often dazzling business of derivatives trading, and see if you agree.
No money is ever really made in financial markets. Markets merely transfer wealth. As to how to make money? Well, it is basically theft, misrepresentation, lies, cheating, deception or force. It is impossible to make the staggering amounts made in derivatives in good years honestly.
Traders, Guns & Money is a wry and wickedly comic exposé of the culture, games, and pure deceptions played out every day in trading rooms around the world, usually with other peoples money. Whether you move in the financial world yourself, know people who do, or have money invested in stocks, shares or derivatives, this is a fascinating read guaranteed to make you think.
What Other Items Do Customers Buy After Viewing This Item?
Top Customer Reviews
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.Read more ›
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.
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.
The real beauty of the book lies in the fact that the author has real world experience within the field he is writing about. Hence you do not just read about derivatives and the related formulas and theories. Instead you read real stories where derivatives were involved along with immeasurable amounts of arrogance, greed and money. This approach makes you feel like you a reading a Wilbur Smith book with all its excitement rather than a book on derivatives. Yet all this is achieved without dumbing down any of the anecdotes or watering down his language to fit a "target audience" while all the while never succumbing to peronal ego boosting.
However, unlike many other authors that have tried a similar tact in regards to financial writing, Satyajit avoids the trap of getting lost amongst the stories. Throughout the whole book there is a clear and logical structure which is followed consistently. By the time any reader has finished reading this book, they will feel like an expert on derivatives who has been in the markets for decades. Though these decades of expertise are only gleaned in the short time it takes to read this book.
Guns Trader and Money is easily the best book to open up the world of finance since Liar's poker was released almost two decades ago.
Most Recent Customer Reviews
This was a great read and would highly recommend. Page turner.Published 22 months ago by Antonio Navarro
Hilarious. Everyone working in the derivatives business should read this.Published 23 months ago by acp
are you into algebraic formulas? is so you will really like this book. sadly i was expecting a bit more - something more along the lines of liars poker... Read morePublished on 15 Sept. 2011 by Gcrikey
The liar's poker for this generation. Mr Das does an excellent and indepth job of explaining not just the instruments, but how these deals are constructed - all whilst making slyly... Read morePublished on 19 Feb. 2010 by Isabella Henney
Traders, Guns and Money claims to offer an informative inside account of the world of derivatives. It does partially deliver on this promise, but it fails on several accounts. Read morePublished on 16 Sept. 2009 by Alexander Sokol
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 on 20 Mar. 2009 by Jack Calder
For me the world of derivatives are a known unknown and after reading the book, it remains like that. Read morePublished on 29 Feb. 2008 by Luis Mansilla
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 morePublished on 3 Nov. 2007 by chris
Entertaining, insightful, skeptical rather than cynical. This book opens the can of worms that is Derivatives and those that peddle them. Read morePublished on 30 Oct. 2007 by Norfolk Chance