When you read this book you can't help wondering whether other authors have deliberately obfuscated the material in order to keep Wall Street / The City a closed club for members only, or whether it is just simply not possible to have a don for finance and writing simultaneously. Mr Tagliani proves that it is possible. For example, it is refreshing to read a description of how central bank decisions affect markets, without resort to the cumbersome jargon used in macroeconomics, while at the same time not sacrificing important details.
I have been working in investment banking for over 14 years and, as I suspect is the case for most other professionals, I have been working in such a small and detailed niche that a book like this helps fill in the gaps in my knowledge of how other parts of the trading floor work. This could not come at a better time than now, when new opportunities for growth have to be actively sought.
For a newcomer to Wall Street / The City, I struggle to think of a better all round introduction than this. The only problem is that there is a LOT of info in this book and it will take time to absorb it all. Nevertheless, its clear structure allows it to serve as a reference.
Lastly, in spite of the inside cover describing his style as "conversational", he avoids the overly chatty style typical of American authors which tries to make up for the supposedly boring underlying content. Neither is it so dry that it can be used as a cure for insomnia.
Of course there are many aspects of finance which are not covered by the book but, suffice to say, it does exactly what it says on the tin.
Matt Tagliani's guide is the perfect way to become familiar with a whole range of concepts relating to stocks and their derivatives. It will help the absolute beginner who is perhaps considering entering the financial services industry and the seasoned professional who might have had limited exposure to the equities space. The book's clear explanations are invaluable in a world full of jargon, ensuring that one can feel comfortable walking onto a trading floor and being able to have an informed conversation. If you want a one-stop shop for all your equity knowledge - this is it!
It's very simple, Students. Being a fresh graduate stepping into the world of Banking, I know we all know the household names like Fabozzi, Natenberg, Taleb, Hull, Graham... but how many of us understand the theory in context? Not until you have done a summer internship (or maybe even a few) can you appreciate how Finance really functions, but this book is the closest you'll come without the experience - even after the experience, it's great for reference and filling in knowledge gaps (and believe me, there will always be plenty of these no matter how long you've worked in the industry). Even if you are interested in Rates/Fx/Commods, you won't go far without having a sound grasp of Equities because questions will always come up in interviews/market wraps/general conversation, and besides that, the best candidates have a good cross-asset understanding. This book will give you a strong foundation to build on. It is comprehensive without being impractical, and its strong focus on application means it won't lull you to sleep. Best of all, it won't break your back or your bank account, because it's super light despite how thick it is and it is inexpensive for the value you will derive from it. Nothing like it on the market; Go Long.
I really thought I knew about finance until I read this book! It fills in all the gaps that you probably don't know exist in your knowledge, and is excellent at bringing the trading floor to life. The book is a perfect mixture of finance theory and pratical knowledge that someone who desires to go into the industry needs. I strongly recommend it to anyone interested in decoding the mystery behind the stock market and/or derivatives, and its an easy read too!! Thumbs up from me!