Dave Ackerman, the narrator of Naked Option, is a brilliant trader but one day, recklessly trying to one-up his firm's superstar, he goes naked on an option trade and loses $112 million in two hours. His career is over. Then he hears about an auditing job at an investment bank. He knows within minutes that something is very wrong, but he's so desperate, he takes the job.
His new partner is Susanna Cassuto, an attractive young auditor he tags as a rich party girl. But on the couch with the lights off, she becomes something else - awkward and inexperienced. What is going on? Together, they discover the elegant embezzlement scheme going on: one trader is working inside with a partner outside. When somebody turns up dead, Dave and Susanna race to put the pieces together - but the bank drops the case. They're fired. Furious, Dave goes out on his own to find the killer.
But the killer finds him first.
|Publisher:||Harriman House Publishing|
|Product dimensions:||6.46(w) x 9.42(h) x 1.03(d)|
About the Author
Joe Kolman has been a financial writer for more than two decades. He began his career in 1983 as an associate editor at Institutional Investor magazine. In 1992, he started Derivatives Strategy, a publication that explained the nascent market in over-the-counter derivatives in plain English. The publication quickly became the leading magazine covering the U.S. derivatives market.
In 2005, he became a vice president at AllianceBernstein Investments. He has been a fellow at the MacDowell Colony, and his writing has appeared in more than a dozen financial publications.
What People are Saying About This
"A page-turner and a slice of life - on and off the trading floor."--(Nassim Nicholas Taleb, best-selling author of THE BLACK SWAN and FOOLED BY RANDOMNESS)
"Full of suspense, sex and surprise."--(Alison Lurie, Pulitzer-prize winning author of FOREIGN AFFAIRS)
Most Helpful Customer Reviews
It is post 9/11. David Ackerman has lost his touch. Once known as a brilliant options trader, he enters into a naked options trade. Things get worse. Within two hours he loses $112 million. A few hours later he adds his job to the red ink.Desperate, he takes a freelance auditing position at an investment bank, where he uncovers a massive trading fraud.Joe Kolman weaves this familiar plot outline into a financial thriller that captures life on a Wall Street trading floor and the under belly of culture in New York City.Penned by the Pointed PunditOctober 14, 20079:18:52 PM
I had no idea what a Naked Option was when I picked up this book to read. However, I was immediately drawn into the story of Wall Street just after 9/11, and where the brokers went to work, the changes to their lives, and the trauma that caused David Ackerman to have a 'stupid day' that cost him his career, his finances, and changed his life with the purchase of Naked Options. He is fortunate in getting another job as an auditor in a bank checking the commodities, stocks, bonds traders as he and the new love of his life and audit partner Susanna begin a search to find the missing money. He is hired because it 'takes a thief to catch a thief...' They find more than they are supposed to, and end up exposing a small group of traders who must hide their personal preferences to work their Wall Street jobs and bring in the bucks. In the chase to find the culprits, David and Susanna stir up more trouble than either could have dreamt. Murder is in this stock market game, and the more they learn, the more apt they are to be targets. This book is not just about murder, cheating, breaking the law, paying off debts, to name of few of the bonds that keep you reading. It is about faith, religion, and living up to those commitments in finding themselves. This was not a fast paced book, but one that kept my interest for so many reasons. I am sure others will enjoy this journey into the banking world where learning a bit about the stock market, the differences between types of traders, and what to watch for if you are your own investor. Very enjoyable.