41st Floor Liar S Poker

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41st floor liar s poker. As described by lewis liar s poker is a game played in idle moments by workers on wall street the objective of which is to reward trickery and deceit. The fall of rjr nabisco and the fictional the bonfire of. No tears to which meriwether replied after seconds of thought no i d rather play for real money. Nearby were several real life masters.

Wolfe according to michael lewis author of liar s poker spent days watching the action on the 41st floor bond trading room at salomon brothers. First published in 1989 it is considered one of the books that defined wall street during the 1980s along with bryan burrough and john helyar s barbarians at the gate. He was the ceo of salomon brothers inc an investment bank that gained prominence in the 1980s. Liar s poker book notes john gutfreund chairman seated at the head of the trading floor holds power and influence over other traders traders are afraid of him leaves his mark by the cigarette ashes.

The first thing you learn on the trading floor is that when large numbers of people are after the same commodity be it a stock a bond or a job the commodity quickly becomes overvalued michael lewis liar s poker. Those who know don t tell and those who tell don t know. Liar s poker is a game of strategy and psychology in which players hold random dollar bills with close attention to the serial numbers on their respective bills. Trainees sometimes abuse each other but traders on the 41st floor abuse the trainees at will.

Liar s poker is a non fiction semi autobiographical book by michael lewis describing the author s experiences as a bond salesman on wall street during the late 1980s. Most were there to gloat about themselves and looking for ego boosts. King of the game liar s poker champion of the. Gutfreund turned salomon brothers from a private partnership into a publicly traded corporation which started a trend in wall street for investment companies to go public.

Liar s poker michael witnessed a classic bluff and re bluff between john gutfreund chairman of salomon brothers and john meriwether board member bond trader. With this as a metaphor lewis describes his four years with the wall street firm salomon brothers from his bizarre hiring through the training program to his years as a successful bond trader. John meriwether member on board of salomon inc one of the company s finest bond traders. 111 quotes from liar s poker.

Gutfreund was the ceo of salomon brothers when lewis began his career there. Gutfreund challenged meriwether to one million dollars.