Pdf Free Liars Poker by Michael Lewis


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  1. says: Michael Lewis ì 0 Free download Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis Pdf Free Liars Poker by Michael Lewis

    characters Liars Poker Pdf Free Liars Poker by Michael Lewis Update On Tuesday March 1 2016 I got a call my banker view spoilerthat sounds weird I'm not sure of the term but the guy who looks after my account hide spoiler

  2. says: characters Liars Poker Michael Lewis ì 0 Free download Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis

    Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis Pdf Free Liars Poker by Michael Lewis Michael Lewis ì 0 Free download 21 years after publication Liar's Poker feels both relevant and ancient Relevant because it seems the Big Swinging Dicks of Wall Street are ever with us; ancient because of references to things like WATS lines and the lionizing of Salomon Brothers trader John Meriwether whose Long Term Capital Management would spectacularly implode in 1998 and Michael Milken who apparently had not yet been indicted when the book went to press but

  3. says: Pdf Free Liars Poker by Michael Lewis Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis

    characters Liars Poker Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis Michael Lewis ì 0 Free download Atlas Shrugged for the philistine It's subtle glorification of the greedy underneath a veneer of hilarious sarcasm and grudging respect is the stuff financial Bibles are made of An interesting slice of financial history is captured succinctly precisely the development of Collaterized Mortgage Obligations in the 80's which also has direct relevance to the recent US housing crisis If you wish to get everything you can out of this book get

  4. says: Pdf Free Liars Poker by Michael Lewis Michael Lewis ì 0 Free download

    Pdf Free Liars Poker by Michael Lewis In 2007 super investor Warren Buffett of Berkshire Hathaway made a bet with some of the people over at the Protege Partners hedge fund He wagered that over a period of ten years the SP 500 a passive index would outperform a group of five hedge funds handpicked by Protege with the loser donating one million dollars to the charity of the winner's choiceHedge Fund A limited partnership of investors that uses high risk methods such as investing

  5. says: Pdf Free Liars Poker by Michael Lewis

    characters Liars Poker Michael Lewis ì 0 Free download Pdf Free Liars Poker by Michael Lewis This book surprised me I read and enjoyed Lewis' Moneyball a while back and thought I was getting another journalistic account this time of a crazy moment in corporate culture Instead it's very much a memoir of that world And I didn't care for it at first since the group of people he writes about are so spectacularly awful He brin

  6. says: Pdf Free Liars Poker by Michael Lewis

    Pdf Free Liars Poker by Michael Lewis pp 83 is a discussion of SL's failure in the USpp 136 is the best explanation of CMO's I've ever readGreat read Initially loaned to me by a coworker I went out and bought it shortly thereafterA former art student winds up becoming a bond salesman for Salomon Brothers in the mid 1980's He sees a lot and describes it vividly Chernobyl The October Crash of 1987 Gutfreund and Meriwether uibbling over how much to bet in on

  7. says: Pdf Free Liars Poker by Michael Lewis

    Michael Lewis ì 0 Free download Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis characters Liars Poker Why am I languishing here making approximately 0 dollars as a librarian? Why was I not a Wall Street investment banker? These guys were having a

  8. says: Pdf Free Liars Poker by Michael Lewis Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis Michael Lewis ì 0 Free download

    Pdf Free Liars Poker by Michael Lewis While this is probably Michael Lewis's most famous book it is not my favorite Lewis is always an engaging writer but maybe because this is a recounting of a period of his life and not an investigation into an exciting mystery or a study of a

  9. says: Pdf Free Liars Poker by Michael Lewis Michael Lewis ì 0 Free download characters Liars Poker

    characters Liars Poker Michael Lewis ì 0 Free download Pdf Free Liars Poker by Michael Lewis Probably the least interesting thing by Michael Lewis that I've read Billed as an expose of Wall Street greed I found it to be a story of incompetent management and political infighting by conceited executives who found themselves s

  10. says: Pdf Free Liars Poker by Michael Lewis Michael Lewis ì 0 Free download

    Pdf Free Liars Poker by Michael Lewis Free download ✓ PDF, DOC, TXT or eBook ì Michael Lewis When a single game of Liar's Poker is played with a million dollars at stake at a workplace just what or whom in the world are you dealing with? The most money hungry industry probably Wall Street ding ding Money i

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characters Liars Poker

characters ê Liars Poker 100 Ers wearing greed and ambition and badges of honor might well have swaggered straight from the pages of Bonfire of the Vanities But for all thier 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 Ameri. Probably the least interesting thing by Michael Lewis that I ve read Billed as an expose of Wall Street greed I found it to be a story of incompetent management and political infighting by conceited executives who found themselves successful by being in the right place at the right time but think themselves as geniuses Some of this reminded me a lot of my father s stories of the politics at his former law practice Why anyone would want to work in a place with so much backstabbing and viscousness is beyond me Shows the value of company culture It s funny to see Lewis wishing the company had been bought out by private euity firms just so they would fire the management To me this book is another example that companies can sometimes be successful in spite of their leaders if they have a decent product and some luck

Free download ✓ PDF, DOC, TXT or eBook ì Michael LewisLiars Poker

characters ê Liars Poker 100 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 callWith the eye and ear of a born storyteller Michael Lewis shows us how things really worked on Wall Stre. 21 years after publication Liar s Poker feels both relevant and ancient Relevant because it seems the Big Swinging Dicks of Wall Street are ever with us ancient because of references to things like WATS lines and the lionizing of Salomon Brothers trader John Meriwether whose Long Term Capital Management would spectacularly implode in 1998 and Michael Milken who apparently had not yet been indicted when the book went to press but got a 10 year prison sentence for securities violationsLewis is a raconteur than a documentarian which is both pleasing and irritating Certainly raconteurs can sell books Most people don t want to read dry scholarly accounts of Wall Street But there are times in the book most of chapters 1 4 where his writerly persona is so big that it crowds out everything else His tone is so arch snarky exaggerated so swimming in eddies of simile and metaphor that I don t completely believe him though I m sure the vague outlines of his story are true He pairs bravado with disarming self deprecation telling us repeatedly how he was utterly green knew nothing stumbled his way through everything yet brought a trader who had wronged him to his knees and by the time he left Salomon was earning the largest bonus of his class undeserved he insists He steps away from the tales of towel slapping long enough to give a detailed history of the rise of mortgage trading at Salomon Brothers and how Salomon management allowed hegemony to slip through their fingers Raising the uestion how did such a junior employee know so much about a the mortgage market and b the internecine battles among Salomon bigwigs The portrait he paints of Salomon s chairman John Gutfreund is fairly devastating though ancient history Gutfreund would be forced out by Warren Buffett in 1991 after a Treasury bond scandalSome examples of his raconteurship Ranieri welded a coherent departmental personality out of two separate but eually gamy ethnic groups Italians and Jews if you care Buying whole loans that is what the traders called home loans to distinguish them from mortgage bonds was an act of faith like eating bolognaFor each step forward in market technology they the traders took a step backward in human evolutionthey became louder ruder fatterTheir days began at 8 am with a round of onion cheeseburgers We d order four hundred dollars of Mexican food says a former trader You can t buy four hundred dollars of Mexican food But we d try guacamole in five gallon drums for a start A customer would call in and ask us to bid or offer bonds and you d have to say I m sorry but we re in the middle of the feeding frenzy I ll have to call you back

Michael Lewis ì 0 Free download

characters ê Liars Poker 100 Et 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 countriesThe bond trad. In 2007 super investor Warren Buffett of Berkshire Hathaway made a bet with some of the people over at the Protege Partners hedge fund He wagered that over a period of ten years the SP 500 a passive index would outperform a group of five hedge funds handpicked by Protege with the loser donating one million dollars to the charity of the winner s choiceHedge Fund A limited partnership of investors that uses high risk methods such as investing with borrowed money in hopes of realizing large capital gainsWith one year to go as of this writing here are the results thus far The hedge funds are up a cumulative 22 percent The SP Up close to 66 percentSo what does this have to do with Liar s PokerFirst the prospective reader should understand what Liar s Poker is It is a memoir by best selling author Michael Lewis about his brief stint working for the investment firm Salomon Brothers during the mid eightiesSo you may well ask what does this have to do with Warren BuffettWell there are two connections First connection In 1987 Buffett was approached by Salomon Brothers which was struggling against a hostile takeover attempt and offered a deal If Buffett would lend Salomon 700 million dollars in the form of a special bond which Salomon would then use to buy back their own shares to fight the takeover attempt then Buffett would have two options Either A he could hold the bond in exchange for an interest rate of nine percent a good return or B he could at any time before 1996 trade the bond in for Salomon common stock at 38 a share only losing money if the company somehow went bankruptThe second connection poignant than the first is this Buffett uoteThere s been far far far money made by people in Wall Street through salesmanship abilities than through investment abilitiesWhich brings us back to Salomon BrothersBecause Liar s Poker is their tale the story of a group of traders and salesmen who at times not only did not make their customers money but who on occasion used their customers as patsies in order to minimize their own losses at their customers expense by selling said customers investment products that Salomon Brothers owned and which Salomon knew were crap when they were sold in order to get them off Salomon s books It tells the tale of Michael Lewis fresh out of Princeton and the London School of Economics and his three year sojourn with what was at that time one of Wall Street s premiere investment firms and how a combination of greed stupidity and internal corruption almost destroyed the companyHighly recommended reading for those folks curious about the goings on of a prominent Wall Street firm during the eighties and who don t mind a behind the scenes look metaphorically speaking at how the sausage gets made

  • Hardcover
  • 249
  • Liars Poker
  • Michael Lewis
  • English
  • 05 January 2018
  • 9780393027501