Liar's Poker is a non-fiction, semi-autobiographical book that details Michael Lewis's three-year tenure at Salomon Brothers, one of Wall Street's premier investment firms in the 1980s. The book provides a behind-the-scenes look at the culture of bond traders, highlighting the frat-boy camaraderie, killer instincts, and high-stakes games of bluffing and deception. Lewis describes the creation and use of mortgage bonds, the excessive bonuses, and the ruthless competition among traders. The narrative also touches on the author's disillusionment with the industry, leading to his resignation and transition into financial journalism.
A Confederacy of Dunces is a picaresque novel that tells the story of Ignatius J. Reilly, an overweight, unemployed, and intellectually arrogant man living with his mother in New Orleans. The novel is a rich satire that critiques modern society through Ignatius's interactions with a diverse cast of characters, including his mother Irene, his girlfriend Myrna Minkoff, and various eccentric figures from New Orleans. Written in the early 1960s while Toole was in the army, the book was published posthumously in 1980 and won the Pulitzer Prize for Fiction in 1981. It is celebrated for its witty and absurd portrayal of life in New Orleans and its memorable protagonist, Ignatius J. Reilly.
In 'Flash Boys: A Wall Street Revolt', Michael Lewis delves into the world of high-frequency trading (HFT) and its corrupting influence on the U.S. stock market. The book follows a group of Wall Street iconoclasts, including Brad Katsuyama and Sergey Aleynikov, as they uncover and challenge the unethical practices of HFT firms. Lewis explains how these firms use advanced technology to front-run orders, creating a rigged market that benefits insiders at the expense of ordinary investors. The narrative is engaging and accessible, making complex financial concepts understandable for a broad audience. The book highlights the efforts of these individuals to reform the market and restore fairness, and it has had significant impact, including prompting investigations and public discussions about market structure and fairness[2][3][5].
In 'Going Infinite', Michael Lewis delves into the life of Sam Bankman-Fried, the enigmatic founder of the failed cryptocurrency exchange FTX. The book provides a psychological portrait and a financial roller-coaster ride, tracing Bankman-Fried's trajectory from becoming the world's youngest billionaire to his eventual downfall. It covers topics such as high-frequency trading, cryptocurrencies, effective altruism, and the justice system. Despite criticism for its sympathetic portrayal of Bankman-Fried, the book offers a fascinating insight into the complex world of cryptocurrencies and the character of its central figure.
The Big Short tells the story of the 2007-08 financial crisis through the lens of several key players who predicted and profited from the collapse of the housing market. The book focuses on characters such as Steve Eisman, Mike Burry, Greg Lippmann, and the founders of Cornwall Capital, who saw the impending disaster and made significant gains by shorting the market. Lewis explains the complex financial instruments and the systemic failures that led to the crisis, making the narrative both accessible and engaging.
The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget. The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in. This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance[2][3][5].
This is one of our favorite conversations from the last year. On the surface, it's an interview we did with Michael Lewis to coincide with the paperback release of Going Infinite, his book about Sam Bankman-Fried and the collapse of FTX. Michael, who spent months hovering over Sam's shoulder, believes he wasn't some malevolent grifter: he was an awkward kid undone by a “pathological ability to foist risk upon other people without asking their permission." But what we love about this episode is that it's not only about the rise and fall of Sam Bankman-Fried. It's also about Michael's approach to writing — and living. He opens up about losing his daughter, shares what draws him to a story, and explains how taking pleasure in the world produces his best work.
🏛️ Check out Michael's latest book, Who Is Government?: The Untold Story of Public Service
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