Reading List · Book
Liar's Poker
Michael Lewis's memoir of his years as a bond salesman at Salomon Brothers captures the excess, testosterone, and innovation of 1980s Wall Street, where Lewis Ranieri invented the mortgage-backed securities market and traders competed for million-dollar bonuses. The book exposes how Wall Street's compensation structure incentivizes risk-taking and short-term thinking over client interests. Written as a cautionary tale, it ironically became a recruiting brochure for aspiring traders.
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