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Reading "Liar's Poker" now....

Posted on 2/5/11 at 8:34 am
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 8:34 am
This book gives a pretty good history of how we got into the mortgage mess which collapsed in 2008.

I recommend it for anyone interested in financial issues.

ETA: The anecdotes in the book about things that went on on Salomon Bros' trading floor and within upper management's politics are hilarious. The book is not a typical cut and dried book about finance. It is one chuckle after another.
This post was edited on 2/5/11 at 9:24 am
Posted by Eyeball
HTX
Member since Oct 2006
395 posts
Posted on 2/5/11 at 9:06 am to
Great book!

I was thinking of picking up Lewis's "The Big Short" and would like to hear any thoughts from those who have read "Liar's Poker."
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 9:22 am to
quote:

I was thinking of picking up Lewis's "The Big Short" and would like to hear any thoughts from those who have read "Liar's Poker."
I've bought and downloaded The Big Short onto my Kindle and plan on reading it after I finish Liar's Poker, which should be this weekend the way the weather is looking.

ETA: You can go to Amazon's Kindle web site and read a sample of most books you are considering. The samples usually run about 8-10 pages so you get a flavor of the book. You might try that with The Big Short. (OOPS! I just looked and it appears no sample is available for this book. Sorry.)
This post was edited on 2/5/11 at 9:33 am
Posted by Chris Farley
Regulating
Member since Sep 2009
4180 posts
Posted on 2/5/11 at 10:49 am to
Russian, have you read a book titled "More Money Than God"?

It gives history of hedge funds, how they started, and how they shaped a lot of the economic events of the last 40 years or so. Also has some pretty funny stories from some of the first major hedge fund guys.
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 10:52 am to
quote:

Russian, have you read a book titled "More Money Than God"?
No, I haven't. Thanks for the tip. I'll look it up and see if it's available on Kindle.

And also, thanks for letting me know I now have to come up with another title for my autobiography since my first choice is already taken....

Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
9177 posts
Posted on 2/5/11 at 10:55 am to
You will enjoy this article by M. Lewis, he keeps the humor intact, regarding Ireland/Irish banks. It makes the US poli's almost look half smart:

VF

quote:

“What happened was that everyone in Ireland had the idea that somewhere in Ireland there was a little wise old man who was in charge of the money, and this was the first time they’d ever seen this little man,” says McCarthy. “And then they saw him and said, Who the frick was that??? Is that the fricking guy who is in charge of the money??? That’s when everyone panicked.


Been a long, long time since I read LP. The Big Short was good, a lot of the content had been released in various articles prior to release. A great read for insight into the shorts and how totally out to lunch the IB executives were. Some things never change.
Posted by John Merlyn
Member since Oct 2009
2203 posts
Posted on 2/5/11 at 11:37 am to
I've read both. Would recommend both.
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
421355 posts
Posted on 2/5/11 at 12:07 pm to
i really like michael lewis and his writing
Posted by SlowFlowPro
Simple Solutions to Complex Probs
Member since Jan 2004
421355 posts
Posted on 2/5/11 at 12:09 pm to
quote:

You will enjoy this article by M. Lewis, he keeps the humor intact, regarding Ireland/Irish banks.

his article about iceland was amazing
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 2/5/11 at 12:09 pm to
I'm a Kindle junkie, too
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
9177 posts
Posted on 2/5/11 at 12:22 pm to
quote:

his article about iceland was amazing


The lack of common sense illustrated in many of these occurrences is almost beyond belief. I recall being at the top of the St. James Guinness brewery in 2005 and looking at the incredible number of commercial cranes dotting the city and thinking, "This will not end well." Then I went back to my Guinness.

I love his writing style as well, keeps one very engaged.
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 12:24 pm to
quote:

I'm a Kindle junkie, too
I've only had mine for 5 months and I'm already up to more than 300 books/articles on mine.
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 2/5/11 at 12:36 pm to
Damn. I like using the highlight feature which, as you know, automatically uploads your notes onto your online account. After I read an educational book, I'll just print these important highlights out and add them to a binder. Or you could just copy and paste said highlights and post them to TD and expand the community knowledge base in the process.
Posted by Alltheway Tigers!
Baton Rouge
Member since Jan 2004
7122 posts
Posted on 2/5/11 at 2:14 pm to
Lewis Hurricanes and Insurance

Good article.

Read Liar's Poker sometime ago and review it ever once in awhile.
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 3:51 pm to
quote:

I like using the highlight feature which, as you know, automatically uploads your notes onto your online account.

Uh...okay, yeah, sure, I knew that..... I mean who doesn't know that???

PS- How does that work again???
Posted by RedStickBR
Member since Sep 2009
14577 posts
Posted on 2/5/11 at 4:15 pm to
You just press your square button (the one in between the four arrows) and a cursor appears. Then you just use the arrows to highlight as much text as you want.

Then go to your kindle account on amazon (not to be confused with your normal amazon account) and at the top there's an option to view your notes.
Posted by sneakytiger
Member since Oct 2007
2471 posts
Posted on 2/5/11 at 6:41 pm to
So many memorable quotes...

EQUITIES IN DALLAS!
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 7:03 pm to


I thought the "goof" played on the guy about the SEC investigating him stealing from the cafeteria was a riot.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 2/5/11 at 7:14 pm to
Whoa, hold on now. Let me get this straight.

LSURussian, suave international banker and recently returned from Antarctica - has not read Liar's Poker?



And also hasn't read either Big Short or More Money Than God?


Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 2/5/11 at 7:34 pm to
quote:

suave international banker and recently returned from Antarctica - has not read Liar's Poker?

No, but I did stay at a Holiday Inn Express one time....
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