Liar’s Poker – Rising Through the Wreckage on Wall Street by Michael Lewis

Liar’s poker is a game played in idle moments by workers on Wall Street, the objective of which is to reward trickery and deceit. With this as a metaphor, Lewis describes his four years with the Wall Street firm Salomon Brothers, from his bizarre hiring through the training program to his years as a successful bond trader. Lewis illustrates how economic decisions made at the national level changed securities markets and made bonds the most lucrative game on the Street.

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His description of the firm’s personalities and of the events from 1984 through the crash of October 1987 are vivid and memorable. That bit was from Joseph Barth. Now my bit… starts out with the game, and from then on it’s a jungle, from immature chimps, bulleys, softies and all to the big cats.

The mind games, eating habits, following the herd vs. raw instincts, abuse. Most figures you read will be 5 digit onwards. Lots of millions and billions and a few trillions.

Big up Sach for recommending the book. Screw him too for having such a wicked job!