countdown boutiques-francophones Learn more scflyout Furniture All-New Kindle Music Deals Store sports tools Registry

Customer Reviews

4.5 out of 5 stars
171
4.5 out of 5 stars
Format: Paperback|Change
Price:$16.16+ Free shipping with Amazon Prime
Your rating(Clear)Rate this item


There was a problem filtering reviews right now. Please try again later.

on April 12, 2015
The story of Michael Lewis is a very credible report on the enrollment and development of rookies in the investment banking world.
The managers make the money by sitting on their fat asses, and all the hard working ones creating the wealth suffer on a daily base to get a pity pay. And for the dreamers, you are not a professional investor working for clients, but a peddler for whatever has not sold in the bank inventory.
0Comment|Was this review helpful to you?YesNoReport abuse
on June 21, 2004
I picked up this book as it is highly popular among investment bankers. I am not an investment banker and do not intend to be one but I was keen to find out what makes Wall Street special. The book not only satisfied my curiosity but also was pleasantly amusing.
The author traces the glorious and gloomy times of Salomon Brothers, a big financial enterprise in which he worked long enough to be able to tell this tale and become a rich man. He explains some financial innovations of Salomon brother's in lay man's terms, which makes this book very readable for all.
The author's self-deprecating humor and his vivid analysis of the people he came across in his organization make the account entertaining.
Whether or not the author's opinions on technical matters in this book are meritorious-I am not qualified to say. If you are a finance novice and curious to find out about life in that universe, you will find this book worthwhile.
0Comment| 7 people found this helpful. Was this review helpful to you?YesNoReport abuse
on April 5, 2013
Michael gives the reader an inside look at one firm on Wall St. The story is not new: greed, power, money. It never changes. This look from the 1980's does lay some of the ground work for what happened in 2008. Of course Michael would not have realized it when he wrote this book. You may have your opinions of how the Street opporates, this just confirms how one firm went about their daily activities from the view point of a rookie working his way into and up the success ladder at a major Wall Street Firm.
Easy read.
0Comment|Was this review helpful to you?YesNoReport abuse
on May 26, 2004
This is the author's coming of age story, set in the world of investment banking in the 1980s. As a growth and wisdom book, it's pretty good, but it's really a non-fiction version of Tom Wolf's Bonfire of the Vanities. Of course what makes it interesting is that Michael Lewis came of age by successfully trading bonds for Solomon Brothers.
Among other aspects of the firm, LP describes Solomon's Mortgage Bonds department, its influence over the savings and loans, and the effect of Fed Chairman Paul Volker's 1981 decision to let interest rates float. Lewis does a brilliant job of explaining how this lead to S&L's selling their mortgages in order to fund investments in higher yield securities.
Here's the catch: Liar's Poker appeared before the S&L debacle but it laid out all the signs needed to predict the disaster to come.
Much of the hand wringing over S&Ls in the early 90's could maybe have been avoided if the warnings given in this book had been acted upon. To be fair, the warnings are clear but they are implicit. Lewis never actually projects the current state of the S&L industry into the future, even if he does mention that the basic problem with mortgages (short term funding of long term loans) is not solved.
Good read.
0Comment| 3 people found this helpful. Was this review helpful to you?YesNoReport abuse
on May 21, 2014
Lewis has a captivating writing style. I have now read a couple of his books and have thoroughly enjoyed them. Liar's Poker itself gives the reader a peek at what the 80s trading desks were up to behind closed doors. Always interesting subject matter however, I recommend that you have decent baseline knowledge about finance before reading Liars Poker. Either way, worth picking up especially if $10 million salaries make you envious.
0Comment|Was this review helpful to you?YesNoReport abuse
on March 31, 2013
I highly recommend the audio version read by Michael Lewis.

This is the funniest book ever written about trading. It is autobiographical, yet captures the atmosphere and the personalities of the era. The 1980's and 1990's were crazy years and Michael Lewis manages to take a snapshot in time.

An absolute classic...
0Comment| One person found this helpful. Was this review helpful to you?YesNoReport abuse
on September 28, 2002
While Lewis does a fine job as he writes a personal memoir of his time at Solomon Brothers in the mid-1980's, he soon loses focus of his main storyline. Lewis wanders off for three chapters to describe the creation of a home mortgage market and the personalities involved. It is as if Lewis or his editor suddenly decided that the amusing anecdotes of life on Wall Street were fine pulp, but needed to be framed in the context of historical substence in order for the book to be seen as respectable. (Ironically, Lewis's account of the rise to power of Michael Milken is more gripping, perhaps because Lewis was more directly affected by Milken's ambitions.) The evolution of equities as an investment is ignored almost completely, leaving the reader to wonder how, in the span of two years or so, the equities department of Solomon Brothers could go from "powerless" to surviving the layoffs started days before the crash of '87 to being the reason Solomon Brothers had its worst year in history. The author is inconsistent in his granting of pseudonyms or anonymity, naming a great many employees by name while protecting a chosen few. All in all, Liar's Poker is a quick, sometimes amusing account of Lewis's time at Solomon Brothers, but little more.
0Comment| One person found this helpful. Was this review helpful to you?YesNoReport abuse
on March 20, 2011
It is an enjoyable read. It should be no surprise to people who have read other books by Michael Lewis, that he tells a story with humor and is just a great storyteller in general. Poker's Liar is another one of those books. Though sometimes I get the impression that he goes over the top or exaggerates in the language he uses in this book. All in all I would still recommend it, though I enjoyed "The Big Short" more, this one is still pretty good. The book takes you inside the organizational culture of an Investment Bank "Salomon Brothers", which Michael Lewis had worked, as a Bond Salesmen. The book is quite descriptive, interesting and really gives you a feel of what it is like to be a Bond trader or salesmen at that firm during the 1980s, however it is not very informative if you are looking to learn some Finance from reading this book.
0Comment| One person found this helpful. Was this review helpful to you?YesNoReport abuse
I read this book back when it was a best seller. Lewis gives us a great insight into the world of Salomon Brothers. In the 1980s Salomon Brothers and their bond traders were at the top Wall Street. The head of Salomon, John Gutfreund was considered the King of Wall Street. John Meriwether the chief bond trader, was the master of the universe. Early in the book Gutfreund challenges Meriwether to a million dollar game of liar`s poker.You become instantly gripped, by what is happening at Salomon Brothers. The message that Lewis is trying to relay, is that Wall Street was growing into a monster. Years later, Meriwether was involved with a multi billion dollar failure at Long Term Capital Management.
0Comment| One person found this helpful. Was this review helpful to you?YesNoReport abuse
on February 24, 2000
... that Mr. Lewis describes, and worked for the fixed income trading desk, so I know for a fact most of his descriptions are pure fiction. As for the rest, he has taken three years of events, embellished and exaggerated them, and presented them as if they occurred in a single day, creating an image of out-of-control mayhem in the company.
Mr. Lewis is a mediocre writer at best, lacking in financial expertise, and interested solely in pulp gossips and self-promotion. If you wish to read an actually well-written book on Wall Street, read "Barbarians at the Gate", "Market Wizards" or "Money Machine" - skip this trash.
0Comment| One person found this helpful. Was this review helpful to you?YesNoReport abuse