February 12, 2010
#5 - Liar’s Poker by Michael Lewis I felt it was time to read something about the recent financial crsis but couldn’t bring myself to spend top dollar on one of those hardback contributions to the debate on “where it all went wrong”. So, I turned back to a book I last read more than ten years ago. Michael Lewis is another great popular (populist) non-fiction writers (a la Gladwell). I read his Moneyball two or three years ago (an absolute MUST for sports fans) and always remembered Liar’s Poker as a cracking read. If you’re wondering whether the international financial system will learn from recent events (and the bonuses at the City banks suggest not) I suggest you go Back To The Future with Liar’s Poker. Lewis’ description of the people and processes at the heart of selling and trading suggest the profit motive (the internalised driving force behind any corporation) will always override the commons - sense and decency. For subprime mortgages more recently read mortgage derivatives back in Lewis’ day as a salesman. I will read a more up-to-date book at some point but only when something interesting hits the shelves in a charity shop. In the meantime, you should check out Michael Lewis.

#5 - Liar’s Poker by Michael Lewis

I felt it was time to read something about the recent financial crsis but couldn’t bring myself to spend top dollar on one of those hardback contributions to the debate on “where it all went wrong”.

So, I turned back to a book I last read more than ten years ago.

Michael Lewis is another great popular (populist) non-fiction writers (a la Gladwell). I read his Moneyball two or three years ago (an absolute MUST for sports fans) and always remembered Liar’s Poker as a cracking read.

If you’re wondering whether the international financial system will learn from recent events (and the bonuses at the City banks suggest not) I suggest you go Back To The Future with Liar’s Poker.

Lewis’ description of the people and processes at the heart of selling and trading suggest the profit motive (the internalised driving force behind any corporation) will always override the commons - sense and decency.

For subprime mortgages more recently read mortgage derivatives back in Lewis’ day as a salesman.

I will read a more up-to-date book at some point but only when something interesting hits the shelves in a charity shop. In the meantime, you should check out Michael Lewis.

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