LIARS POKER ESSAY
The back row set the tone of the class because it acted throughout as one, indivisible, incredibly noisy unit. I had thought that investment bankers made money for a living, dhe way Ford made cars. His wife, Susan, was busy spending the better part of fifteen million dollars redecorating their Manhattan apartment Meriwether knew this. As Lewis describes it, its is a world that involve far more sophomoric humor that reaches a frenzied and decidedly unfunny places than it does cold calculation, risk assessment models, and financial acumen. James’s Palace, I applied to banks.
The most charitable explanation for their apathy was that they could not understand English. She had been, in other words, a fairly typical student. They seemed serious, at least compared with how I felt. They proved their superiority every day by handling risk better than the rest of the risk-taking world. Bob, check out this guy’s suspenders. In the midst of the hysteria I was suitably hysterical.
Christ, even front-row people hoped to be Big Swinging Dicks once they had learned what it meant. When all was said and done, the pay came to around six dollars an hour.
Bond traders and salesmen age like dogs. A trainee didn’t have to stay on the bottom lor more than a couple of months. This was a dubious honor.
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Sure, I knew the basic differences. A bond was worth only as much as the person who valued it properly was wil ling to pay.
This was fun for him but not for you. Imagine if I take two people and I put them in the middle of the jungle and I give one person a jungle guide and the other person nothing. You’re up against a lot of economics majors who know their stuff. Most of them had Ph. It should be said that I was, by the standards we use to measure ourselves, a success. They were relieved as much as excited. They regarded it as their game. Would I care to eat breakfast at 6: I’ve always had difficulties making sharp transitions, and this one was the sharpest.
So, you see, I had problems. When push came to shove, however, Ranieri and many others were tossed out for not towing company line, and these individuals were consistently left out of large decision making ventures and promotions I certainly had no fixed idea of what to do when I graduated from college, and Wall Street paid top dollar for what I could do, which was nothing.
Through the lens of Lewis’ own experience working in the halls of Wall Street, it is possible to see how, at least in one very specific and perhaps idiosyncratic era, decisions were made and fortunes were made and lost by the “powers that be” — or perhaps more correctly, by the “powers that were,” as Lewis’ story also clearly reveals the revolving door nature of individual success and profit on Wall Street.
The rare Japanese whom Salomon had been able to snatch away were worth many times their weight in gold and treated like the family china. Investment banking applicants were expected to be culturally literate. In part, the im maturity level of the individuals in the organization was beneficial in that liarz were endlessly willing to compete for ultimately meager rewards. It was pretty clear, considering the absence of harsh cross-examination, that the managing director’s wife had been true to her word and that Salomon intended to hire me.
Each year on the trading floor counts for seven in any other corporation. Forty percent of the tlhirteen hundred members of Yale’s graduating class of applied tco one investment bank. He was predestined for the London office, I later learned, and not terribly worried about his career.
The traders in the vicinity eavesdropped. They threw themselves at their dream boss’s feet, like poked vassal before a lord, and said something unctuous and serf like, such as “I am your humble and devoted servant. From then on, whenever an investment banker asked for rny motives, I dutifully handed him the correct answers: Can I help in any way?
Although most of the graduates from Harvard Business School sat in the front, a few sat in the back. From the foyer’s darkest corner came a tiny ray of hope, the first sign that there pker more than one perspective on life at Salomon Brothers.
I checked around for spitballs and paper wads.
Liar’s Poker Essay
Does he have any idea what he’s doing, and if not, how do I exploit his ignorance? Navy fighter pilot, nailed Leonard Bublick, four-eyed M. And we were Wall Street’s most profitable firm.