Posts tagged with statistical arbitrage

Well, I didn’t think this book was that funny. It was interesting to peep inside Salomon Smith Barney as bond trading was becoming lucrative. John Gutfreund was the first of many to take his firm public
to the dismay of the partners he took it over from;
to his vast personal gain;
to begin an era of rapacity in finance, according to Michael Lewis.
What is funny, is how many people, instead of hearing Lewis’ message, take away: "Wow, cool! Those guys got sooo rich.”
The guy who recommended this book to me also told me to read The 48 Laws of Power and watch Boiler Room.  Same deal with Boiler Room; it’s a movie about young guys who don’t understand the movie Wall Street, that the “Greed is good” monologue is a villain’s perspective speech.
To paraphrase Michael Lewis’ own summary of Liar’s Poker: “Hey! I was wet behind the ears! An art history major, for goodness’ sake. This business was dysfunctional, even fraudulent; and my co-workers were pathological.”

Well, I didn’t think this book was that funny. It was interesting to peep inside Salomon Smith Barney as bond trading was becoming lucrative. John Gutfreund was the first of many to take his firm public

  • to the dismay of the partners he took it over from;
  • to his vast personal gain;
  • to begin an era of rapacity in finance, according to Michael Lewis.

What is funny, is how many people, instead of hearing Lewis’ message, take away: "Wow, cool! Those guys got sooo rich.”

The guy who recommended this book to me also told me to read The 48 Laws of Power and watch Boiler Room.  Same deal with Boiler Room; it’s a movie about young guys who don’t understand the movie Wall Street, that the “Greed is good” monologue is a villain’s perspective speech.

To paraphrase Michael Lewis’ own summary of Liar’s Poker: “Hey! I was wet behind the ears! An art history major, for goodness’ sake. This business was dysfunctional, even fraudulent; and my co-workers were pathological.”


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