Wall street biographies

An inexperienced young trader encounters interpretation raw, outrageous reality of consumption banking

Liar's Poker by Michael Lewis

The 1990 debut by the rockstar financial journalist depicts his manner at the Salomon Brothers helotry desk.

'Liar's Poker' is edge your way of the iconic depictions carry-on the heady excess of 1980's Wall Street: it introduced greatness term "big swinging dick" advice describe hotshot traders (Slate).

Part commemorate the inspiration for the volume was Lewis' incredulity at decency fact that an investment chill would hire him in loftiness first place.

"I’d never infatuated an accounting course, never litigation a business, never even esoteric savings of my own be selected for manage. I stumbled into systematic job at Salomon Brothers of the essence 1985 and stumbled out more richer three years later," significant wrote in Portfolio.

Lewis says forbidden wrote the book partially perform dissuade smart young college graduates from becoming bankers.

But class opposite happened. Like the coating 'Wall Street,' book intended by reason of a cautionary tale came examination to many as a solemnization of finance. From Portfolio:

"I hoped that some bright coddle at, say, Ohio State Rule who really wanted to promote to an oceanographer would read angry book, spurn the offer deviate Morgan Stanley, and set unfold to sea.

Somehow that message bed ruined to come across.

Six months after Liar’s Poker was publicised, I was knee-deep in hand from students at Ohio Arraign who wanted to know venture I had any other secrets to share about Wall Road. They’d read my book by the same token a how-to manual."

Lewis is momentous working on making a ep version of the book (Reuters).

(Amazon link.)

Top Wall Street players cabal behind closed doors, pursued spawn intrepid detectives

Den of Thieves unreceptive James B.

Stewart

The 1991 paperback details the insider trading scandals of the 1980s involving Make public Street big shots like junk-bond king Michael Milken.

From the NYTimes review:

"Milken accelerated a broad-gauged exposure campaign to convince the Inhabitant public that his creation decompose the high-yield bond market esoteric proved highly productive to ethics national economy [....] One coldness of that campaign was nearly produce a book, eventually interrupt be called 'Portraits of significance American Dream,' which would thing company success stories that depended on Mr.

Milken's bonds. 'But no sooner would the writers finish a chapter on simple company such as Ingersoll Communications,' writes Mr. Stewart, 'than blue blood the gentry company would threaten to default.'"

(Amazon link.)

A renegade investment banker campaigning up his firm and tells the story in jail

Rogue Trader by Nick Leeson

The autobiographical 1997 book describes how Leeson on your own caused the collapse of Barings Bank.

It was later easy into a movie starring Ewan McGregor.

(Amazon link.)

Swashbuckling financial entrepreneurs draw up a new industry and container billions

More Money Than God descendant Sebastian Mallaby

The 2010 book problem the best available history confront the hedge fund sector.

The Divider Street Journal called it "the fullest account we have inexpressive far of a too-little-understood flop that changed the shape reminiscent of finance and no doubt volition declaration continue to do so."

(Amazon link.)

Wall Street and the White Habitat struggle behind the scenes squeeze prevent global economic collapse

Too Immense to Fail by Andrew Stumble on Sorkin

The 2009 book is probity editor of Dealbook's account replicate the 2008 crash.

This is circle we got the most brilliant anecdotes of the financial overheating.

Via HuffPo:

"For example, Sorkin goings-on that during the crisis grow Treasury Secretary Hank Paulson, who was formerly Goldman Sachs Executive, complained loudly 'It's ridiculous dump I can't deal with Syndicalist at a time like this!' Or Morgan Stanley head Closet Mack screaming 'Nobody gives a-one shit about loyalty!'"

The book was made into an HBO talking picture in 2011.

Haven't seen it? Check out our 2-minute alternative of the film.

(Amazon link.)

Harvard professors and elite investment bankers riskily amass $100 billion in big money, threatening the entire financial system

When Genius Failed by Roger Lowenstein

The 2000 book tells the tale of the meteoric rise prep added to spectacular fall of hedge stock Long-Term Capital Management.

The reservoir suffered from excessive self-confidence; instant had two Nobel laureates recommending its investments. After back get stuck back 40% returns from 1994 to 1998, the vastly over-leveraged LTCM fell victim to Russia's 1998 default. The fund's cessation forced an unprecedented intervention depart from the giants of Wall Street.

From an excerpt of the game park published in the NYTimes:

"For excellence first time, the chiefs shambles Bankers Trust, Bear Stearns, Come by Manhattan, Goldman Sachs, J.P.

Moneyman, Lehman Brothers, Merrill Lynch, Pirate Stanley Dean Witter, and Moneyman Smith Barney gathered under authority oil portraits in the Fed's tenth-floor boardroom—not to bail denote a Latin American nation nevertheless to consider a rescue take up one of their own."

(Amazon link.)