Liar's Poker

By Michael Lewis,

Book cover of Liar's Poker

Book description

Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street's premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in…

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Why read it?

7 authors picked Liar's Poker as one of their favorite books. Why do they recommend it?

I love this book because it reads like a fictional tale about the modern financial markets, and yet it’s all absolutely true!

I am still staggered by some of the stories that Lewis tells about the real-life characters who worked on Wall Street back in the 1980s. And I’m in awe of the colorful way he describes and explains the way the bond markets work—no easy task.

Not only did he bring the go-go days of the 80s to life for me, but he also gave me a solid grounding in the machinations of the financial markets, helping me in…

One of the first “tell-all” Wall Street books, this 1989 treasure tells the story of the rise and fall of Solomon Brothers bond trading firm as witnessed from one of its salesmen, Lewis, from the inside.

It is a tale of greed and egos and men with little understanding of the products they sold, let alone scruples to care one way or the other, getting filthy rich in a system that even, at times, rewarded failure and penalized success. It tells how egos ran Solomon, once the most powerful firm in finance, and headed by its venerable CEO John Gutfreund…

The one thing I don’t like about most economics books is that they are overly antiseptic and highly divorced from the machismo gambling culture that drives speculative behavior in the first place and leads to the kinds of conditions that eventually create financial catastrophes.

My writing on economics is highly colored by the fact that I worked on Wall Street as a financial journalist at the height of the high-rolling, cocaine-rich, Salomon Brothers 1980s. But pick any subsequent bubble – Enron, Scion, FTX, the tech founder clients of SVB – it ultimately follows the same betting and bluffing storyline.

If…

Book cover of Benghazi! A New History of the Fiasco that Pushed America and its World to the Brink

Ethan Chorin Author Of Benghazi! A New History of the Fiasco that Pushed America and its World to the Brink

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Why am I passionate about this?

Author Story-lover Middle East expert Curious Iconoclast Optimist

Ethan's 3 favorite reads in 2023

What is my book about?

Benghazi: A New History is a look back at the enigmatic 2012 attack on the US mission in Benghazi, Libya, its long-tail causes, and devastating (and largely unexamined) consequences for US domestic politics and foreign policy. It contains information not found elsewhere, and is backed up by 40 pages of citations and interviews with more than 250 key protagonists, experts, and witnesses.

So far, the book is the main -- and only -- antidote to a slew of early partisan “Benghazi” polemics, and the first to put the attack in its longer term historical, political, and social context. If you want to understand some of the events that have shaped present-day America, from political polarization and the election of Donald Trump, to January 6, the US withdrawal from Afghanistan, Russian expansionism, and the current Israel-Hamas war, I argue, you need to understand some of the twists and turns of America's most infamous "non-scandal, scandal.”

I was in Benghazi well before, during, and after the attack as a US diplomat and co-director of a medical NGO. I have written three books, and have been a contributor to The NYT, Foreign Affairs, Forbes, Salon, The Financial Times, Newsweek, and others.

By Ethan Chorin,

Why should I read it?

1 author picked Benghazi! A New History of the Fiasco that Pushed America and its World to the Brink as one of their favorite books, and they share why you should read it.

What is this book about?

On September 11, 2012, Al Qaeda proxies attacked and set fire to the US mission in Benghazi, Libya, killing a US Ambassador and three other Americans.  The attack launched one of the longest and most consequential 'scandals' in US history, only to disappear from public view once its political value was spent. 

Written in a highly engaging narrative style by one of a few Western experts on Libya, and decidely non-partisan, Benghazi!: A New History is the first to provide the full context for an event that divided, incited, and baffled most of America for more than three years, while silently reshaping…


This is the book that lifted the lid on Wall St’s roaring eighties. It’s funny, personal, and true to life. It exposes the basic truth in investment banking: the customer comes second. "Who do you work for, this guy or Salomon Brothers?" a shame-faced Lewis is asked by his boss after inadvertently selling a bad bond to an unsuspecting client. It’s a question that every investment banker faces at some time in their career and it’s all laid bare in the book that established a genre.

From Philip's list on financial history.

Before Lewis became a bestselling author of The Big Short and Moneyball, he was an investment banker. If you wish to understand banking culture, the reason why they do seemingly irrational things, or behave in ways that would be reprehensible to the general public, this account of Lewis’ time as a junior banker explains it all in vivid detail. 

It details his rise from a trainee, having food and phones thrown at him on the trading floor, to the banking art of getting a million-dollar bonus and pretending to be unhappy about it.

This is a fun look at what it was like to work at Solomon Brothers in the 1980s. It’s also a great description of trading culture. Liar’s Poker launched Michael Lewis’s career while it took John Gutfreund, who was then CEO of Solomon Brothers, down a few pegs. Solomon Brothers is no more; even huge trading firms get busted.

From Ann's list on for beginning traders.

Lewis is a phenomenal writer. Anything he has written can be assumed to be a great read. Liar’s Poker is Lewis’s account of his experiences as a trainee and bond salesman at Solomon Brothers in the 1980s—A very entertaining and humor-filled narrative.

From Jack's list on traders.

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