67 TIP: Liar’s Poker by Michael Lewis

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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.

IN THIS EPISODE, YOU’LL LEARN:
– 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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