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Liar's Poker includes an anecdote about how John Gutfreund (CEO of Salomon Bros) challenged a bond trader called John Meriwether to a high-stakes game of Liar's
by jackgavigan 12y ago
Liar's Poker includes an anecdote about how John Gutfreund (CEO of Salomon Bros) challenged a bond trader called John Meriwether to a high-stakes game of Liar's Poker: "One hand. One Millions dollars. No tears."
John Meriwether went on to found LTCM. Liar's Poker provides some of the background and context for the story Lowenstein tells in When Genius Failed.
- tptacek 12y agoSure, I know that, but my point is that the LTCM story is actually easier to follow than Liar's Poker, and knowing who the characters are coming in to LP makes it easier to follow. There's really nothing in Lewis' book that explains anything about LTCM, but there's stuff in WGF that shines a light on some minor characters in LP. Read When Genius Failed first.
- jackgavigan 12y agoI'm not talking about just the characters. I'm talking about background and context. You clearly disagree, which you're perfectly entitled to do. For everyone else: I've worked in the financial markets for over a decade, I'm an ex-trader who used to deal with hedge funds like (and including) George Soros's Quantum Fund. My advice is to read Liar's Poker first.
- tptacek 12y agoYou have me curious now. What's some of the background and context from Liar's Poker that's valuable for reading When Genius Failed?