Michael Lewis – Liar’s Poker
Why would you have to?
You know you can pursue a happy live while being oblivious to financial markets, right?
Ok, ok, it’s your life (time). If you really have to, read Michael Lewis.
And let me start with a uselessly long and not-too-exciting story.
I’m just freshly graduated (University of Economics) and I get the chance to work for a company servicing hedge funds, which is a term I heard approx. trice in my previous life, but it feels like a perfect shortcut to become a hot shot. I’m 24 -> I think: this is it!
And a friend of mine lends me this book (yep it’s not mine and I bet he doesn’t know I have it anymore. Not proud of that, but there are eFFers having dozens of my books, which are never to be returned (hence never to be reviewed either).). #Don’thatetheplayershatethegame
And I loved every piece of it and since the circumstances were quite generous to my reading time too, I had the chance to read it on my journey to my first music festival (bit of a late bloomer, I admit)…In other words, there is not a cloud in my sky when remembering this one.
Something like a month later, my client comes to visit our office to meet “his” new guy and we talk books a little (I really tend to break the ice this way and it works) and I go “I’m just reading this book about Wall Street…”.
“Ah, that’s the bible!”
So I thought if it’s a bible for a guy from the Hedge Fund industry, which is the crème della crème (for better and worse) of a financial world, it might be the right thing to read also for you.
Also, I’ve read all Lewis’s books and this is both the first and the best one and all of them are pretty good… (Actually, some could easily replace many of the boring old fashioned economic schoolbooks I had to deal with during my studies).
Also # 2, if you want a very same story in a slightly different color, but written a bit more recently, you might opt for “Why I left Goldman Sachs…” but I wouldn’t recommend that.
Read this one. Read the classics and then also go and watch “The Big Short” and show a bit of love to Michael Lewis for he deserves it. Besides being a perfect and generous “Let-me-take-you-to-the-Wall-Street’s-kitchen-kind-of- guide”, he is a remarkable story teller too.
Favourite line (There are much better, less corny, ones, I promise. Just wanted to promote this and the best ones wouldn’t be able to pass FB’s profanity filter):
“Those who know don’t tell and those who tell don’t know.”
“Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.”