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Liar's Poker

The Security Analysis Podcast

CHAPTER

Risks, Rewards, and Recklessness in Finance

This chapter explores the contrasting personalities of a hedge fund manager and a CEO, illustrating how risky behaviors led to significant downfalls in finance. It reflects on the hedonistic trading culture of the 1980s at Salomon Brothers and draws comparisons to today's environment, highlighting the shifts in trading practices and the balance of ethics in the industry. The discussion also emphasizes the crucial role of regulation in preventing market excesses, referencing historical financial crises and the need for safeguards in a rapidly evolving financial landscape.

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