Rating: 
Summary: Well written and still timely.
Review: This book is interesting and still timely for a number of reasons. Michael Lewis was not hired by Salomon Brothers by going through the usual channels. That is, he didn't just send in his CV and go through a series of interviews. He did have or was finishing his master's degree at LSE and that would ordinarily be considered very competitive. But the details are quite intriguing. There are also several pages dealing with John Meriwether of Long-Term Capital fame. Meriwether, of course, directed the largest financial collapse in history, and he was trained at Salomon as were many other of these infamous bond traders. Its evidently no longer true that "Hedge funds are very strongly regulated by those (the banks) who lend the money" (see the article on Alan Greenspan in BusinessWeek, 12 Oct. 98)! Or has the FED always been in front of the eight ball? You would think that Frank Partnoy (FIASCO) would REALLY be upset with this idea rather than fuming about a zero-sum game in which there is always a winner and a loser with fairly normal contracts. I can't think of a worse case nuclear-waste derivative than 80:1 margin with long and short positions on every possible bond, CMO, and currency in the world all controlled by an arrogant hedge fund manager. This unheard of leverage could only be done by dozens of banks loaning out money on collateral that was already used to procure a loan across the street. Where was Frank when this was going on? Morgan Stanley was not even involved directly with LTCM, and perhaps that explains Frank's silence. Even to this day those at LTCM have a mantra that goes like "You know the model worked really well except for this tiny little problem", and that phrase is usually followed by "You don't understand (we are just too smart for you), all that was wrong was a tiny bit of bad timing and not quite enough leverage". Yes, a little tiny non convergence in interest rates did all that damage, and you boys and girls should be in jail. No retail broker would ever do anything like that. My answer to all this is that if you have spent 15 min studying the Black-Scholes equation and geometric Brownian motion of stock prices, you have wasted more than 14 min of your time. Lets hear from Frank. I think what I found most interesting in Liar's Poker was Mr. Lewis's detailed explanation of the development of the mortgage security market at Salomon Brothers. This info is not readily available, and I have no reason to doubt Mr. Lewis's account. If Salomon was the top investment bank when this book was written, times have certainly changed, because they are not even among the top three investment banks today.
Rating:
Summary: One of the funniest and informative books I've ever read!!
Review: I have not read a more interesting book about the "going ons" on Wall Street then Liar's Poker. It keeps you turning the pages with his subtle and sometimes "in your face" humor that makes this book very funny and exciting. Absolutely one of the best books I have ever read.
Rating:
Summary: One of the funniest books ever
Review: This is one the best books about ANY subject. Even if you are not interested in finance, you can still find it amusing. Any critisisms that the book is exagerated (so what?), that the author comes across as holier than thou, are completly beside the point.
Rating:
Summary: indispensable
Review: great book. indispensable to understand the late 80ie
Rating:
Summary: Wonderful!!!
Review: Last summer I worked on Wall Street for Goldman Sachs (the Salomom Brothers of the 90's). Going to NYC I expected to find the phone throwing backstabbing, disrespectful jerks in the book. What I did find was 90hr 6 days work weeks. The traders and salesmen were highly intense, intelligent, and most of all stressed. I did come across a few traders who still had the same mentality of the traders in the book. However, most of the "Liars Poker" types Wall Streeters have left. I actually met about three people in the book including Mike Mortara now head of fixed income @ Goldman.My advice read this book. But, even after reading this book if you want a Wall Street career be prepared to give up you life and sleep.
Rating:
Summary: Laugh at loud and enjoy yourself with a lesson in finance.
Review: After working for two years (going on my third before I graduate) in trading as an intern in college, I finally came around to read this wicked and funny book. It really gave me a new perspective on my experiences and an education on how the business evolved. Do not believe all you read- traders are more civilized nowadays. They don't swing phone handsets at trainees lke myself, nor they have food frenzies every Friday and are generally better educated and a bit more refined than what Lewis depicts them to be. However, this book really tells the insider's view of the trading world from spotting "Big Swingin Dicks" (and "Dickettes")to the trading floor culture to unwritten rules and codes that can make or break a new trainee. A very fast and enjoyable read recomended for all finance students and soon to be traders like myself.($$$$$$$$)
Rating:
Summary: CONSIDER OTHER CAREER OPPURTUNITIES
Review: I read this book my senior year in high school and it blew my mind. It is proably the best insight into the real life of a Wall Street businessman. It puts a humorous twist on the field of business trading. I recomend this book to anyone who is intrested in business or studying business.
Rating: 
Summary: A good business read
Review: One of the most biting "insider" critiques of 1980s Wall Street personalities and practices. Fairly readable, Liar's Poker blends humor and critique in an entertaining way. The book was written well enough to entice me to read Lewis' later compilation of essays on similar topics, The Money Culture.
Rating:
Summary: A very good read about traders in investment banking
Review: As the Human Piranha, a character in the book, would say, this book is a 'f***** good read'. Read it if you are into investment banking. You will learn a lot and enjoy yourself in the process.
Rating: 
Summary: Complete exaggeration of life on Wall Street
Review: If you want to believe all the myths you've heard about Wall Street, read this book. If you want to really learn about what sales and trades is like on the Street, read a more factual book, like "FIASCO." I felt that Lewis did a lot of embellishing so he could sell more books.
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