Lair’s Poker, by Michael Lewis (1989)

Now this was a good book. This almost autobiographical tale follows a young Michael Lewis as he winds up on the office floor of Saloman Brothers, just as their hugely successful bond trading business begins to collapse. Michael Lewis is an engaging writer and the characters here ranging from a loyal Italian wall street visionary to a old school trader unable to get out of his own way is astonishing.

I think a lot of people read this for the money, the greed, the expensive suits, first class travel, high pressure trading environment and ultra competitive companies of their dreams, or nightmares. For me I think I actually enjoyed the strategy lessons the most. The risk associated with under paying staff, not recognising their value, and not appreciating your lightning in the bottle.

I also enjoyed understanding Michael Lewis a bit more, his unorthodox route to making it to wall street and even a taste of his own mania once he began seeing success trading.


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