EXECUTIVE SUMMARY

Michael Lewis 


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. If you want to read our five page executive summary of this book, Liar’s Poker, view this page instead. If you would like to download all of our book summaries, click here.

 

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?

 

Tweet your comments to this podcast episode directly to Preston, Stig and the rest of The Investor Podcast’s community using “#TIP67”


 

BOOKS AND RESOURCES MENTIONED IN THIS EPISODE

Michael Lewis’ book, Liar’s Poker – Read reviews of this book

Michael Lewis’ book, Flash Boys – Read reviews of this book

Michael Lewis’ book, Moneyball – Read reviews of this book

Michael Lewis’ book, The Big Short – Read reviews of this book

Roger Lowenstein’s book, Buffett: The Making of an American Capitalist – Read reviews of this book

Meb Faber’s book, Global Value – Read reviews of this book

Martin Scorsese’s movie, The Wolf of Wall Street – Read reviews


VIDEOS THAT SUPPORT THIS PODCAST

Michael Lewis on the Legacy of Liar’s Poker

How to Play Liar’s Poker

 

Mebane Faber on Global Value


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  download-free-bookA lot of people ask us how we have time to read so many books. The truth is… we don’t! We listen to audiobooks. The beauty of audio books is you can knock-out two things at the same time. For example, driving, standing in line for your glamour shots at the mall, or just doing the dishes. All joking aside, reading a book every two weeks is probably the most profound element to our success in business. That's why we have worked hard with Amazon.com to get an exciting deal lined up for all the Investor's Podcast listeners. If you click on our exclusive link to Amazon's Audibles, you can download any free audio book straight onto your smartphone! If you don't like the service within 30 days, keep the free book and cancel the service. Amazon's Audibles has the largest listing of audio books in the world with over 180,000 titles. I personally use Audibles because it has the cheapest prices, the best reliability, and the largest selection of titles (You pick the books through Amazon.com). Making a commitment to read a new book each month is hands-down the most important investment you can make. - Preston & Stig

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Download Preston & Stig's free stock investing checklist. Their checklist was developed after spending countless hours studying billionaires like, Warren Buffett, Carl Icahn, and Ray Dalio. With their checklist, you can find safe picks that protect and grow your principal. Additionally, Preston & Stig read a lot of books and write executive summaries for each book they finish. If you download their checklist, you will be added to their monthly e-mail list where they send their book summaries. There are never any advertisements...ever. Here's an example of one of their executive summaries, based on the book written by Billionaire Charlies Koch.