Ron's Reviews > Liar's Poker

Liar's Poker by Michael   Lewis
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M 50x66
's review
Dec 27, 2011

it was amazing
Read from December 27 to 28, 2011

Another great Michael Lewis read. This early title covers his apprenticeship at Solomon Brothers in the 1980's. I never thought "compelling reading" and "bond market" would fit well in the same sentence, but in this case they do. Lewis has a gift for balancing analysis with great first-person reporting, and a style that just bounces along.

One jewel from his description of how Solomon management went bad: "The reward for being a good producer is to be made a manager. The best producers are cutthroat, competitive, and often neurotic and paranoid. You turn those people into managers, and they go after each other...Half of them get thrown out because they are bad. Another quarter get muscled out because of politics. The guys left behind are just the most ruthless of the bunch. That's why there are cycles on Wall Street...because ruthless people are bad for the business but can only be washed out by proven failure."

Highly recommended!
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05/22/2016 marked as: read

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