- Hardcover: 320 pages
- Publisher: WW Norton; Anniversary edition (28 October 2014)
- Language: English
- ISBN-10: 0393246108
- ISBN-13: 978-0393246100
- Product Dimensions: 16.5 x 2.8 x 24.4 cm
- Average Customer Review: 1 customer review
- Amazon Bestsellers Rank: #6,53,621 in Books (See Top 100 in Books)
Liar's Poker (25th Anniversary Edition): Rising Through The Wreckage On Wall Street Hardcover – 28 Oct 2014
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Liar's Poker is the funniest book on Wall Street I've ever read.
Often profane, always hilarious, right on the mark.—People
So memorable and alive…one of those rare works that encapsulate and define an era.—Fortune
Makes the bond-trading business look like a cross between Animal House and Greed Incorporated…Lewis recounts incidents that should make customers stuff their money in mattresses.
Roars along like a maniac comic novel.—Los Angeles Times
Lewis provides a view so vivid you can almost see the sweat dripping from the traders' brows. From inside, mighty Salomon Brothers looks like Animal House…Liar's Poker does indeed rank with Bonfire of the Vanities as a contribution to the history of a wild and colorful era when the markets ran amok.
When the stories of our times are told, there will be no more seminal documents than the books of Michael Lewis.—Tim Adams, Observer
About the Author
Michael Lewis is the best-selling author of Liar’s Poker, Moneyball, The Blind Side, The Big Short, and The Undoing Project. He lives in Berkeley, California, with his wife and three children.
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The most important part is how the mortgage securities market evolved into becoming the hottest instrument to deal in during those times.
This is probably the best of its kind. It will give you an understanding the various roles within an investment bank and what they do on a daily basis to make money. It is entertaining all throughout and I did not feel like even flipping one page. The story-telling style is captivating. This book is recommended to:
• Anyone who likes to read a good non-fiction book
• Finance and business graduates
• Curious and novice traders
• Anyone interested to know how the market works.
One does not need much specialized and technical knowledge to enjoy this one. Five Stars!
Most helpful customer reviews on Amazon.com
I didn't read a Lewis book until Moneyball, but after that I was hooked and gobbled up The Big Short, Flashboys and the Undoing Project. After finishing his book on those Israeli psychologists, I picked up Boomerang, The Losers, The New New Thing and now Liar's Poker. Despite enjoying all of the aforementioned books (The Losers is a dream for people that follow politics), I was hesitant about Liar's Poker because I figured it was a dated book about Wall Street in the 1980s.
I am pleased to say that my concerns turned out to be unjustified. After graduating from the London School of Economics, Lewis fell into a job at Salomon Brothers (it was eventually absorbed into Citigroup). His first few months were spent with 120+ other young professionals with newly minted premium degrees (lots of Harvard and Stanford MBAs) in the Salomon Brothers highly regarded training course (an indoctrination series, really).
A few chapters covers the training course and the various professionals they were exposed to, as well as a history of both Salomon Brothers and the bond market. Lewis goes to work in the London office, where he was moved from a lowly trainee to a lowly geek. He learns at the heels of two extremely gifted salesmen and within six months, after completing a major trade, grows from a geek to a BSD (read the book).
Lewis was sitting next to the CEO of Salomon Brothers on the day of the Black Monday Crash and provides us with the helpless reactions of the traders on the floor, as well as the calculating response of his two mentors. Less than a year after the crash, Lewis left Wall Street because the belief in the value of money and those who made it had been shattered (he also acknowledges that he made enough to be comfortable and obviously wanted to write a book).
The housing collapse and stock market crash of 07-08 had it's roots in the 1980s scenes where Lewis describes the unscrupulous taking advantage of customers and the belief by the Street that the government would always bail them out. 28 years after it was first published, the book is still relevant and quite entertaining.
On more than one occasion, I had to stop reading because I was laughing so hard, wondering, "Did he really say that?! Wow! Are there really people like that?!" My early life in Manhattan, right after college was an adventure, but a mild one compared to the stories in this book.