Liar's Poker: Rising through the Wreckage on Wall Street

Liar's Poker: Rising through the Wreckage on Wall Street

4.0 192
by Michael Lewis
     
 

ISBN-10: 0140143459

ISBN-13: 9780140143454

Pub. Date: 10/28/1990

Publisher: Penguin Group (USA)

In this shrewd and wickedly funny book, Michael Lewis describes an astonishing era and his own rake's progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the…  See more details below

Overview

In this shrewd and wickedly funny book, Michael Lewis describes an astonishing era and his own rake's progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the jungle, a bond salesman who could turn over millions of dollars' worth of doubtful bonds with just one call.

With the eye and ear of a born storyteller, Michael Lewis shows us how things really worked on Wall Street. In the Salomon training program a roomful of aspirants is stunned speechless by the vitriolic profanity of the Human Piranha; out on the trading floor, bond traders throw telephones at the heads of underlings and Salomon chairman Gutfreund challenges his chief trader to a hand of liar's poker for one million dollars; around the world in London, Tokyo, and New York, bright young men like Michael Lewis, connected by telephones and computer terminals, swap gross jokes and find retail buyers for the staggering debt of individual companies or whole countries.

The bond traders, wearing greed and ambition and badges of honor, might well have swaggered straight from the pages of Bonfire of the Vanities. But for all thier outrageous behavior, they were in fact presiding over enormous changes in the world economy. Lewis's job, simply described, was to transfer money, in the form of bonds, from those outside America who saved to those inside America who consumed. In doing so, he generated tens of millions of dollars for Salomon Brothers, and earned for himself a ringside seat on the greatest financial spectacle of the decade: the leveraging of America.

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Product Details

ISBN-13:
9780140143454
Publisher:
Penguin Group (USA)
Publication date:
10/28/1990
Pages:
256
Product dimensions:
5.30(w) x 7.90(h) x 0.77(d)
Age Range:
18 Years

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Liar's Poker 4 out of 5 based on 0 ratings. 193 reviews.
LidlessEyesWatchingDoor More than 1 year ago
The Bang for your Buck is in the last 60 pages; the rest is vanity.
Anonymous More than 1 year ago
Michael Lewis does a great job the bring the experience of a Bond Trader in wall street to its reader. The book goes into good detail about the events that unfolded at Salomon Brothers during his time there, and gives you a whole new perspective on the industry. Definitely worth reading
DrAndy More than 1 year ago
I've read this book twice; once when it came out about twenty years ago, and again a few weeks ago. The difference twenty years of living makes is immense. As a young man, this writer's voice did not bother me, but at 43, I found him irritating in the extreme. The book is a decent insider's look at a time in America when stockbrokers were flying high, and for that, this book remains interesting, though I much prefer the excellent "Den of thieves".
FairfieldU2011Grad More than 1 year ago
as a finance major this provides a wonderful jump back into the 1980s at Salomon Bros...i read this after reading The Big Short but I will definitely go back and reread it again with a better understanding of Lewis' style and the mortgage bond market...a must read for any student in business...will be looking to purchase more books by Lewis...he has a unique style to put you into the atmosphere of the story
SubwayReader More than 1 year ago
Excellent work. Looking forward to reading his other offerings. Looking back now it is absolutely stunning to see how the junk/mortgage bond market was basically being created.
ktrock More than 1 year ago
A classic! Lewis takes the reader through all the ironic twists of being on Wall Street in the '80s.
Anonymous More than 1 year ago
I had to read this book for extra credit for my history class in college. To be honest, I didn't want to, but I had to and I'm glad I did. This was an enjoyable read, although the chapters were a bit long in my opinion. I recommend it!
Mark Kuczora More than 1 year ago
great read even for beginners. hard to quantify greed in this world but this comes close. great intro for novices. i wish i read it sooner
Guest More than 1 year ago
This book is well written and keeps you gripped well into the night. Liar's Poker was so good that I have decided to become an investment banker, so help me God.
Guest More than 1 year ago
'Caveat Emptor', 'Eat or be eaten',were the rules of the bond trading world at Salomon Brothers as well as Wall Street at the pinnacle of 1980s- the greed decade. After reading this for the first time as a 16 year old high school student, Lewis' masterpiece didn't turn me away from Wall Street, it made me more interested. While reading the book, I found myself clued in as I was glued to it's pages. Lewis is not only a brilliant storyteller and salesman, he explains to the layman and young student how the rigged game of trading really works. An absolute eye opening must-read for those pursuing Wall Street careers. I've read it a at least a dozen times.
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This book is so hilarious and gives a birds eye view of investment banking. A potentionally snoozer of a subject had me laughing at how audacious the powers that be eere in the book. Great read
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