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.
Wall Street's 1980s mortgage-bond era from inside Salomon Brothers. Required reading for understanding how trading desks actually behave.
Tagged beginner in the Ledge Reads catalog: written to be readable without prior investing background.
What it covers
- Salomon Brothers
- Mortgage Bonds
- Lewis Ranieri
- 1980s Wall Street
- Bond Trading
- Wall Street Culture
- Compensation Incentives
- Trading Floor
- Securitization Origins
- Michael Lewis
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ISBN-10: 039333869X
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