Liars Poker

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Liars Poker

by Michael Lewis

W. W. Norton & Company, Incorporated | June 11, 1989 | Hardcover

Liars Poker is rated 4.8333 out of 5 by 6.
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 . But for all their 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.

Format: Hardcover

Published: June 11, 1989

Publisher: W. W. Norton & Company, Incorporated

The following ISBNs are associated with this title:

ISBN - 10: 0393027503

ISBN - 13: 9780393027501

Found in: Investments and Securities

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Reviews

Rated 5 out of 5 by from GREAT BOOK AND A MUST READ!!!! Michael Lewis did a great job in writing a short and funny story about his experiences on Wall Street. It is a great read for those that are just starting out in the industry as it is full of information and tips.
Date published: 2007-08-09
Rated 5 out of 5 by from Great book! This book gives you a great insider look into Wall Street without going into all the technical jargon often found with business books. This is a novel, not a technical manual. But at the same time, this is a real-life of how a person went from being at a banquet with Queen Elizabeth to the trading floor at Solomon Smith Barney. Great book for someone who just wants to get a taste of the happenings on Wall Street!
Date published: 2001-05-28
Rated 5 out of 5 by from Looking for a job on the street? Read this book! Looking for a job on the street in the 21st century? Read about the gluttony of 1980's Wall Street at Salomon Bros. and have a good laugh. Mike Lewis puts it all into perspective in his insightful, humourous, easy-to-read, first book. Learn a few tricks of the trade, or just a few good tricks. The chapter on mortgage backed securities (MBS) is the only slow part, but don't skip ahead you might learn something.
Date published: 2000-12-13
Rated 5 out of 5 by from Liars Poker How many books have you read more than once? This book is great. This book is funny. It is also a quick read. Do it. Find out about wallstreet. These charactors are great.
Date published: 2000-10-16
Rated 5 out of 5 by from Required Reading for Brokers and Their Clients Solly (Solomon Brothers brokerage firm) in 1986 was a hot-bed of action for young, rich brokers. If you're looking at the industry you should know its past (which, interestingly, is also some firm's present) management culture. And if you're thinking of hiring a broker you should know what happens on the inside. Since the 1987 Correction (or Crash, depending on if you were invested or not at that time) and the rise of discount and e-brokers these days of the full-service stockbroker seem to be numbered (as they become more like bankers) but it is incredibly interesting to see how business was done when the blush was still on the rose. You don't need to be a market-maven to know what they are talking about all of the time, but it helps. This is to broker novels what Wall Street with Charlie Sheen and Michael Douglas is to broker movies.
Date published: 2000-06-20
Rated 4 out of 5 by from All u need to know about the investment banking fi Anyone thinking of a career in i-banking cannot pass up this book. An amazing book which takes a very unique view of the field. The book has many funny moments and is just a treat to read.
Date published: 1999-07-10

– More About This Product –

Liars Poker

by Michael Lewis

Format: Hardcover

Published: June 11, 1989

Publisher: W. W. Norton & Company, Incorporated

The following ISBNs are associated with this title:

ISBN - 10: 0393027503

ISBN - 13: 9780393027501

From the Publisher

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 . But for all their 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.

About the Author

Michael Lewis, the best-selling author of Liar’s Poker, The Money Culture, The New New Thing, Moneyball, The Blind Side, Panic, Home Game, The Big Short, and Boomerang, among other works, lives in Berkeley, California, with his wife and three children.

From Our Editors

In this shrewd and wickedly funny book, Michael Lewis describes an astonishing era and his own rake's progress through the jungle of a powerful investment bank. In two short years he rose from trainee to a bond salesman who could turn over millions of dollars' worth of doubtful bonds with just one call

Editorial Reviews

“Lewis has a gift for the rapid portrait. Unless you find his flippant one-liners irritating, it is a pleasure to be guided around the jungle of bond markets by his reminiscences and trenchant asides. . . . Apart from the belly-laughs, one of the triumphs of is that it makes the financial complexities of investment banking and the markets accessible to the layman. . . . Everything from yields to selling short is painlessly clarified in the course of the narrative.”

“Vivid and memorable.”

“Lewis takes the reader through his schoolboy''s progress as trainee and geek in the trading room, to high-powered swashbuckler. The author has a puckish appreciation for the comic. Yet he also has the knack of explaining precisely how complex deals really work. He provides the most readable explanation I''ve seen anywhere of the origin within Salomon Brothers of the mortgage-backed securities market....It is good history, and a good story.”