Tyson Strauser's Reviews > Den of Thieves

Den of Thieves by James B. Stewart
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Mar 01, 10

bookshelves: history, finance, biography, behavioral
Read in July, 2007

James Stewart's account of the story behind the junk bond craze and subsequent crisis reads as a precursory case study to the real "schooling" brought to Wall Street by the rise and subsequent fall of the mortgage financing market decades later. The book re-iterates the lesson too often observed through different periods of financial history: Value attribution becomes increasingly driven by "confidence" and not cash flow as the risk trade progresses. This book is an insightful and sometimes unflattering snapshot of some of today's great activist investors before they were "made men."
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