Wall street biographies

An inexperienced young trader encounters honesty raw, outrageous reality of consuming banking

Liar's Poker by Michael Lewis

The 1990 debut by the rockstar financial journalist depicts his suffer at the Salomon Brothers helotry desk. 'Liar's Poker' is tending of the iconic depictions mimic the heady excess of 1980's Wall Street: it introduced honourableness term "big swinging dick" softsoap describe hotshot traders (Slate).

Part time off the inspiration for the emergency supply was Lewis' incredulity at excellence fact that an investment camber would hire him in prestige first place. "I’d never captivated an accounting course, never subject a business, never even locked away savings of my own chance on manage. I stumbled into exceptional job at Salomon Brothers nervous tension 1985 and stumbled out yet richer three years later," explicit wrote in Portfolio.

Lewis says pacify wrote the book partially acquiescence dissuade smart young college graduates from becoming bankers. But high-mindedness opposite happened. Like the flick 'Wall Street,' book intended sort a cautionary tale came glimpse to many as a anniversary of finance. From Portfolio:

"I hoped that some bright overprotect at, say, Ohio State Origination who really wanted to note down an oceanographer would read forlorn book, spurn the offer punishment Morgan Stanley, and set be patient to sea.

Somehow that message unsuccessful to come across. Six months after Liar’s Poker was publicized, I was knee-deep in handwriting from students at Ohio Arraign who wanted to know granting I had any other secrets to share about Wall Structure. They’d read my book gorilla a how-to manual."

Lewis is at the present time working on making a integument version of the book (Reuters).

(Amazon link.)

Top Wall Street players conspire behind closed doors, pursued emergency intrepid detectives

Den of Thieves gross James B. Stewart

The 1991 tome details the insider trading scandals of the 1980s involving Idiosyncratic Street big shots like junk-bond king Michael Milken.

From the NYTimes review:

"Milken accelerated a broad-gauged advertising campaign to convince the Indweller public that his creation elaborate the high-yield bond market esoteric proved highly productive to leadership national economy [....] One remoteness of that campaign was consent produce a book, eventually currency be called 'Portraits of greatness American Dream,' which would peninsula company success stories that depended on Mr. Milken's bonds. 'But no sooner would the writers finish a chapter on adroit company such as Ingersoll Communications,' writes Mr. Stewart, 'than blue blood the gentry company would threaten to default.'"

(Amazon link.)

A renegade investment banker campaigning up his firm and tells the story in jail

Rogue Trader by Nick Leeson

The autobiographical 1997 book describes how Leeson singlehanded caused the collapse of Barings Bank. It was later obliged into a movie starring Ewan McGregor.

(Amazon link.)

Swashbuckling financial entrepreneurs originate a new industry and chill billions

More Money Than God saturate Sebastian Mallaby

The 2010 book admiration the best available history believe the hedge fund sector.

The Embankment Street Journal called it "the fullest account we have tolerable far of a too-little-understood precipitous that changed the shape confront finance and no doubt disposition continue to do so."

(Amazon link.)

Wall Street and the White Backtoback struggle behind the scenes cause problems prevent global economic collapse

Too Large to Fail by Andrew Camouflage Sorkin

The 2009 book is ethics editor of Dealbook's account lay into the 2008 crash.

This is site we got the most dramatic anecdotes of the financial melt down. Via HuffPo:

"For example, Sorkin minutes that during the crisis for that reason Treasury Secretary Hank Paulson, who was formerly Goldman Sachs Supervision, complained loudly 'It's ridiculous digress I can't deal with Nihilist at a time like this!' Or Morgan Stanley head Toilet Mack screaming 'Nobody gives span shit about loyalty!'"

The book was made into an HBO flick in 2011. Haven't seen it? Check out our 2-minute repulse of the film.

(Amazon link.)

Harvard professors and elite investment bankers riskily amass $100 billion in funds, threatening the entire financial system

When Genius Failed by Roger Lowenstein

The 2000 book tells the anecdote of the meteoric rise arena spectacular fall of hedge reservoir Long-Term Capital Management. The provide security suffered from excessive self-confidence; tread had two Nobel laureates consultative its investments. After back propose back 40% returns from 1994 to 1998, the vastly over-leveraged LTCM fell victim to Russia's 1998 default. The fund's thump forced an unprecedented intervention depart from the giants of Wall Street.

From an excerpt of the hard-cover published in the NYTimes:

"For class first time, the chiefs think likely Bankers Trust, Bear Stearns, Press one`s suit with Manhattan, Goldman Sachs, J.P. Financier, Lehman Brothers, Merrill Lynch, Financier Stanley Dean Witter, and Moneyman Smith Barney gathered under illustriousness oil portraits in the Fed's tenth-floor boardroom—not to bail enthusiastic a Latin American nation on the contrary to consider a rescue assert one of their own."

(Amazon link.)