Liar's Poker Epub Download

 admin

The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker. Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar’s Poker is the culmination of those heady, frenzied years—a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game of bluffing and deception, here is Michael Lewis’s knowing and hilarious insider’s account of an unprecedented era of greed, gluttony, and outrageous fortune.


Author:Michael Lewis
Format: mobi, epub
Published: 2010-02-18T04:07:48+00:00

  • Free download or read online Liars Poker pdf (ePUB) book. The first edition of the novel was published in 1989, and was written by Michael Lewis. The book was published in multiple languages including English, consists of 310 pages and is available in Paperback format. The main characters of this non fiction, business story are.
  • Liar's Poker Pdf ebook download. Total Downloads: 6502 Ebook Reads: 3216 File: liar-s-poker.pdf/epub ISBN: 258 Liar's Poker - Michael Lewis Summary. The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker.
  • Format: PDF, ePub, Mobi View: 7383 Get Books. Liar S Poker Liar S Poker by Michael Lewis, Liar S Poker Books available in PDF, EPUB, Mobi Format. Download Liar S Poker books, The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker.

Chapter Seven

Liar

More ebooks visit this site to search read and download full ebook. Liar's Poker Ebook Summary Download. Download Liar's Poker free pdf ebook online. Liar's Poker is a book by Michael Lewis on 2010-03-15. Enjoy reading 256 pages by starting download or read online Liar's Poker. Format Book: PDF, ePUB & Audiobooks Pages: 256 ISBN-10: Download. The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker. Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms.

The Salomon Diet

1986-1988

Liars Poker Epub Download

HE BOND MARKET and the people market sought their respective equilibriums, and in the two years following the dinner at Le Perigord the mortgage department of Salomon Brothers disintegrated. A departing trader could indeed be replaced by other bright young men from the nation's leading business schools. With the million dollars Salomon saved by not meeting Howie Rubin's demands, it bought a dozen new Rubins. The replacements looked pretty much like the original. However, they didn't make nearly as much money for Salomon Brothers. For, unlike their predecessor, they had to compete with the best. Shearson Lehman, Goldman Sachs, Morgan Stanley, Drexel Burnham, First Boston, and Merrill Lynch employed former Salomon traders. There was a growing club of men on Wall Street who said with a smile that Salomon Brothers was a great place to be from. By allowing dozens of able mortgage traders to fertilize the mortgage departments of other firms, Salomon Brothers let slip through its fingers the rarest and most valuable asset a Wall Street firm can possess: a monopoly.

LiarEpub

Ranieri & Co. had been a more airtight monopoly than even the people at Salomon Brothers knew. Between 1981 and 1985 the only noticeable competition had been First Boston, and even it, early on, wasn't a serious threat. Marvin Williamson, a Salomon Brothers mortgage salesman who moved to First Boston in late 1982, recalls that “at the time at Salomon we thought First Boston was behind every rock. Not only were they not behind every rock, [but] they didn't even know where the rocks were.” Yet by the middle of 1986 First Boston could boast about the same market share in mortgage securities as Salomon Brothers. Ranieri didn't like what he saw, and he let Gutfreund know. He says, “I kept telling him, 'John, you're selling the technology for a hill of magic beans.'”

There is no chance that the rest of Wall Street would have permitted Salomon Brothers to maintain its hammerlock on the mortgage market. Eventually other firms would have caught on to our tricks because mortgages were too profitable to ignore, but the process was accelerated by our policies. The traders who left Salomon Brothers provided Wall Street not only with trading skills and market understanding but also with a complete list of Salomon Brothers' customers. Now the traders had a short-term incentive to educate the fool; show the fool how much he was paying to Salomon Brothers, and perhaps he'd give his business to you.

Liar

The transfer of skills and information probably cost Salomon Brothers hundreds of millions of dollars. In the early days of trading, mortgage bonds were profitable because the traders could buy them at one price and sell them almost instantly at a much higher price. A trader would pay a thrift in Kansas 94 for a bond, then sell it to a thrift in Texas at 95. By early 1986 margins had narrowed. A trader paid 94.5 for a bond which he might just possibly, on a good day, sell at 94.


Liar's Poker Epub Download Torrent

Download

Liar's Poker Epub Download Free

Liar's Poker by Michael Lewis.mobi
Liar's Poker by Michael Lewis.epub

Liar's Poker Epub Download Software