67 TIP: Liar’s Poker by Michael Lewis

In this episode, Preston and Stig discuss the best selling book, Liar’s Poker. The book was written by Michael Lewis and it describes Lewis’ first hand account of working for a big bank on Wall Street as a bond trader. If you’re interested in entering this field of work, you will definitely want to listen to this episode.

During the 1980s, Michael Lewis worked as a bond trader at the notorious floor of Solomon Brothers. The book is a highly entertaining read about the competitive environment of Wall Street’s trading floors. The book describes an environment where no room is allowed for weakness, and where bold risk-taking is is the life-blood of the industry.

– Why everyone considering a career on Wall Street should read this book before their first interview
– The business model of a broker and trading company like Salomon Brothers
– How much money Stig made as a commodities trader
– How Preston thinks traders should be compensated
– Ask The Investors: Should I invest locally if I live in a small country?

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