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All You Need to Know About the City 2009/2010: Who Does What and Why in London's Financial Markets
This is the latest edition of the best-selling guide to the City’s financial markets used by students, young professionals and DIY investors.This book tells you who the main players in the financial markets are and explains the transactions and instruments that they trade.It is for anyone who needs to know about the financial markets – but particularly for students and young professionals who are thinking of working in the City or have started their City careers.About Christopher StoakesChris Stoakes writes best-selling books that students recommend. His books make complex subjects easy to understand and are enjoyable to read. By profession, Chris is a lawyer but he has also been a financial journalist, editor, marketing director, management consultant and MBA tutor.
242 pages, Paperback
First published February 1, 2007
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212 people want to read
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Displaying 1 - 10 of 10 reviews
February 13, 2024
This book took me 5 months to read.. it is a 215 page book…
Stoakes claims it is an easy guide to the city. But boy is it the opposite. I originally started reading due to starting my job hunting for consulting roles, and had listened to Stoakes on the Bright Network podcast and I enjoyed his style then. However this book was far from that…
It was slow, and written in the least engaging way. I struggled to read a page at a time and ended up skimming it toward the end.
The chapter on the financial crisis is the only saving grace that pushed it from a 1 to a 2 star, and even that was only accessible due to having watched the Big Short.
Stoakes claims it is an easy guide to the city. But boy is it the opposite. I originally started reading due to starting my job hunting for consulting roles, and had listened to Stoakes on the Bright Network podcast and I enjoyed his style then. However this book was far from that…
It was slow, and written in the least engaging way. I struggled to read a page at a time and ended up skimming it toward the end.
The chapter on the financial crisis is the only saving grace that pushed it from a 1 to a 2 star, and even that was only accessible due to having watched the Big Short.
March 2, 2016
An absolute gem of a book. An interesting read for anyone, but especially if you are going to work in a City (i.e. London finance company),which I was at the time.
This book manages to explain the workings of the City in terms of finance in a simple way, which is some achievement compared to previous material I've read.
This book manages to explain the workings of the City in terms of finance in a simple way, which is some achievement compared to previous material I've read.
April 10, 2022
A highly detailed but condensed book which is overall very straightforward. Explains multiple concepts from trading, investing, funds, banking, stock markets and more. These are all necessary components of the city, so kudos to Christopher for that.
December 31, 2022
Survey of the banking industry, something that was completely alien to me before.
Overall, companies go to the City/banks to raise money.
Rule of 3 model: Issuers, intermediaries and investors. Issuers (companies and governments) issue shares and bonds (sell side). Institutional investors (investment funds, pension funds, insurance companies) buy and trade securities (stocks and bonds). Banks mediate between issuers and investors.
Commercial(/retail) banks take in deposits and loan them out. Investment banks advise companies on securities (IPOs, M&A, trading), and also trade securities themselves.
Securitization is turning assets (e.g. loans) into tradable items (e.g. bonds). Mortgage backed securities are an example of this process (cause of the 2008 financial crisis).
Derivatives, in a similar way to securitized items, derive their value from underlying assets. They are options, futures, and swaps, and are what hedge funds trade. Margin calls occur when there is not enough cash to cover the lender should the assets lose their value. Or in the case of the film, when the derivatives are worthless, so need to be sold off before their price plummets.
Overall, companies go to the City/banks to raise money.
Rule of 3 model: Issuers, intermediaries and investors. Issuers (companies and governments) issue shares and bonds (sell side). Institutional investors (investment funds, pension funds, insurance companies) buy and trade securities (stocks and bonds). Banks mediate between issuers and investors.
Commercial(/retail) banks take in deposits and loan them out. Investment banks advise companies on securities (IPOs, M&A, trading), and also trade securities themselves.
Securitization is turning assets (e.g. loans) into tradable items (e.g. bonds). Mortgage backed securities are an example of this process (cause of the 2008 financial crisis).
Derivatives, in a similar way to securitized items, derive their value from underlying assets. They are options, futures, and swaps, and are what hedge funds trade. Margin calls occur when there is not enough cash to cover the lender should the assets lose their value. Or in the case of the film, when the derivatives are worthless, so need to be sold off before their price plummets.
November 5, 2022
A very good book that is a must-read for those wanting to enter the private sector world. Stoakes goes into detail about the key players in the city; institutional investors, Companies and governments (Borrowers) & banks (intermediaries), the instruments they trade (derivatives &bonds etc.) as well as information on interest rates, reading the FT and more.
Another reviewer mentioned that this book should be read before his commercial awareness book and I agree. It is very well written and easy to understand, and it most definitely delivers on its promise to make reading the FT and other similar news sources easier.
Another reviewer mentioned that this book should be read before his commercial awareness book and I agree. It is very well written and easy to understand, and it most definitely delivers on its promise to make reading the FT and other similar news sources easier.
March 22, 2020
Very good overview of the main actors and instruments in the current financial landscape.
Perfect to begin with and to better understand the relations between different subjects.
Doesn't contain any number, just simple explanations of institutions and products.
Perfect to begin with and to better understand the relations between different subjects.
Doesn't contain any number, just simple explanations of institutions and products.
January 19, 2025
I read this to prepare for an interview at a law firm, and it did exactly what I had been hoping that it would: clarified key concepts so that I can understand the FT. Stoakes packs a lot in, but he also explains well and gets through a lot in not much space.
November 20, 2023
Excellently informative
May 15, 2020
Brilliant overview on banking, equity finance, debt finance, M&A, private equity, etc. Would recommend to anyone interested in a caterer in professional services who wants a high-level and comprehensible introduction to the City.
Displaying 1 - 10 of 10 reviews