I loved reading this book | Liar's Poker: Rising Through the Wreckage on Wall Street

Very entertaining | Liar's Poker: Rising Through the Wreckage on Wall Street | Michael Lewis

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	• Liar's Poker: Rising Through the Wreckage on Wall Street Michael Lewis Penguin (Non-Classics), 1990 - 256 pages average customer review:based on 245 reviews view larger image
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highly recommended

Wall Street in the '80's

While it has been some time since I read Liars Poker it still brings a smile to my face by bringing back fond memories. What has renewed my interest and motivated me to write more of a validation than a review of Liars Poker was my current reading of one of Michaels other books - The money Culture. Having spent 42 years in municipal finance with, 23 of those years as a municipal bond analyst/portfolio manager/investment director, at a major institution I can speak with some semblance of authority. You would have to say that at various points in my career I experienced some of what he talks about. He does a nice job of pointing out the nature of characters, some of who, use to prey on unsuspecting porfolio managers. While most of his referrences are related to the corporate fixed income side, Munis had their share of thugs, thieves, but mostly honest people that were there to help you in various ways. Among the thugs and thieves are firms that are, in some cases, no longer in business. Who ever reads this book should keep in mind that the author, in citing what occured during the '80's, was in fact laying the foundation for what was and is ocurring in the capital markets during these turbulant times. Whether he knew it or not is not of material importance.

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I loved reading this book

I found this book very good to read especially during the current financial crisis. Even though the author wrote it in the 80s, it shows the culture and business of investing. The author used to be a bond salesman in the New York and London offices of Salomon Brothers.

The description of the S&L crisis is in a way similar to the subprime mortgage crisis of 2008. The greed and obsession with money made both crises possible. After reading this book, I realized that no matter how much regulation we have, we will experience similar events. Yesterday, it was the S&L crisis, today it is the subprime mortgage crisis, and tomorrow the greedy minds of Wall Street will create something even more interesting that will have more devastating effects.

For those who are not familiar with the business of high finance, this book will be an eye-opener. It shows what traders, salesmen, and executives of Wall Street firms do every day to make money by taking huge risks with the hope of a payoff. I absolutely loved this book and highly recommend it.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

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Very entertaining

This book is very entertaining and an easy, enjoyable read. The author shares his personal experiences in a very accessible way, providing a glimpse into the workings and atmosphere of the financial services industry of the 1980's. The author also has a good sense of humor and his descriptions of the some of the characters at Salomon are priceless. Finally, the book is quite well written, which is much appreciated. Highly recommended. Paul Gehrman, Author, Kaleidoscope

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Compelling read!

Liar's Poker is a great story about the inside, behind-the-scenes culture of Wall Street. Couldn't put this down as "page turner" is an understatement. Learned a little about trading and a lot about the pervasive culture that exists in the financial circles on Wall Street. Not a surprise that the folks there have their priorities focused directly on WIFM (What's in It For Me) in terms of their own financial progress. And no surprise that they learn this from the "top down". Even though it's a bit of a rhetorical "duh?" conclusion, the story IS STILL FASCINATING.

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Hilarious

Nutshell review - This is a very funny book. Lewis writes a great story but, more than this, it gives you a fantastic behind the scenes look at how some fund managers operate in the wild, wild west of financial markets. This a rough and tumble world where all too often the small investors get punished for the benefit of the big guns. Very funny, eye-opening and offers a glimpse into the ivory towers.

In fiction there was Bonfire of the Vanities; in reality, there is Liar's Poker--the fascinating insider's account of what really happens on Wall Street. This irreverent and hilarious birds-eye view of Wall Street's heyday will appeal to anyone intrigued by the allure of million dollar deals. Now in trade paper. First serial to Manhattan Inc.

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