| Author: |
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Michael Lewis
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| Title: |
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Liar's Poker: Rising Through the Wreckage of Wall Street |
| Moochable copies: |
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No copies available |
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| Published in: |
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English |
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| Date: |
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| ISBN: |
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0393027503 |
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| Reviews: |
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quark262 (USA: CA) (2007/10/02):
this book is about the author's life as a stockbroker and he describes how what looks like certainty and smartness by brokers is actually just humans making guesses and many times having to be disengenuous to clients in order to make that extra dollar. He talks about some stockbrokers who "know their stuff" and might lose millions one week and sweep it under the carpet without their bosses' knowledge but gain more millions the next week. "Liar's Poker" is an apt description. You may or may not know what you're doing, but you have to make the other people believe you do know what you're doing. He didn't like lying to clients and rarely did it, but he knows many were forced to lie to their clients that abc would make a large profit but actually wouldn't; they especially lied to private individual investors compared to large organizations/companies since individuals had less money to gamble with and the stockbroking firm had less to lose when lying to individuals. these are some of the examples of having to lie and the trials and tribulations of being in the industry.
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| URL: |
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http://bookmooch.com/0393027503 |
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