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Kiplinger Bookshelf

Liar's Poker

  • Author: Michael Lewis
  • Publisher: Norton, W.W. & Company, 320 pages

No Lie. Liar's Poker is an unvarnished glimpse into how market traders really think and behave. Even if you’re a novice investor with starter money in a retirement account, you’ll learn much from this trading-floor view of Wall Street.

Author Michael Lewis witnessed plenty of risque behavior, some abhorrent and even criminal, during his time as a bond trader for Goldman Sachs on the floor of the New York Stock Exchange back in the 1980s. He saw all the shenanigans that led to the savings and loans crisis. Lewis intended this book to be a wake-up call. But he was both bemused and shocked later that many business students took it as “how-to-get-rich” guide in the decades that followed.

He continued illuminating the opaque corners of the financial world with subsequent books, such as The Big Short, his look at the 2008 market meltdown. Hollywood turned Lewis' book into a movie that won a 2016 Oscar for best screenplay.

Why should Kiplinger readers give their time to this earlier 1989 title? Simple. Do you want to know how Wall Street really works? Liar’s Poker tells all.

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