Liar's Poker - Michael Lewis

Liar’s Poker is an extended autobiographical essay of a misplaced investment banker. A BA in art history and masters in economics from London School of Econmics speak volumes about the utter confusion of what kind of a career he wanted to pursue. It’s a battle everyone can relate with it.
The book traces the journey of Michael Lewis from him joining Salomon Brothers as a trainee to his exit after establishing himself as a “Big Swinging Dick”. And along with his own journey, the author provides insights into the chaotic world within Salomon Brothers. Right from the rise of the company along with the mortgage bond market in the early 80s, and it’s opportunity loss during the junk bond bubble during late 80s. Even if as a reader you’re not financially savvy, you do not need to feel intimidated by the book, because Liar’s Poker does a brilliant job of keeping things simple.
The book is essentially about the people in the whole crazy financial world. It talks about the things that the people go through, right through the value chain. It talks about the graduation of a worthless trainee to a gawky geek to a mature man, eventually to the ultimate coveted title – “Big Swinging Dick”. The author does a brilliant job of showing the human side to the those ridiculously rich investment bankers. Well, a lot of them do not have a human side, as it turns out. Their greediness is as innate to them as the stereotype of a investment banker makes it out to be. But then, there are some, who do not start out the journey that way. Especially the kind of people who have art degrees. Sure they get corrupted with so much money flowing around, and so many money hungry people telling them the things they should be doing. ‘One-bad-apple’ phenomena. But these humans amidst the vultures is what makes Liar’s Poker a great story.
You will love this book if you have anything to do with the world of finance. May be you can identify with one of the guys in it. If you are one of the greedy folks, well, that doesn’t make you a bad guy. You probably still have a lot of people who look up to you. So don’t take anything written in this book about traders and bond salesmen and equities brokers and others too personally. Read it for what it is. A series of facts and one man’s opinion on them.
And even if you do not have anything do with the world of finance, but are enamored with the houses that the investment bankers live in and the cars they drive, you definitely should read this book, to get a glimpse into what they really are like.
Lastly, Salomon Brothers went through a lot more turbulent phase after the publication of the book. That’s just to give you some perspective. If you thought Salomon Brothers trading floor was a hell hole… it got worse. So stop cribbing about your job… unless you are one of them.