Plus, I remain thoroughly ignorant of how many of the deals worked, despite concentrating extremely hard. The approach of the author was almost as though he himself were a bystander, without any ability to decide whether he was capable of stopping the giant snowball careening down the mountain. You're listening to a sample of the Audible audio edition. Surviving The Forest (A Ww2 Historical Novel, Based on a True Story of a Jewish Hol... Healthcare from the Trenches: An Insider Account of the Complex Barriers of U.S. Fiasco: The Inside Story of a Wall Street Trader, Previous page of related Sponsored Products, "What if we told you that almost everything you know about finance is wrong? An inspiring true story of combat and courage. This book makes clear that derivatives are nuclear time bombs and should be treated as such - although few investors do. Something we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime. Another book highlighting the greed of investment banks, the misuse of derivatives and the power of vested interests to ensure no adequate regulation is imposed. This book was a gift from a friend 7 years ago. FIASCO: The Inside Story of a Wall Street Trader By: PARTNOY, FRANK Material type: Text Publisher: New York Penguin Books 1997 Description: 283 ISBN: 9780140278798 Subject(s): Inside | Story | Street | Trader | Wall | FIASCO DDC classification: 332.645 PAR We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. The author kept it entertaining by exposing some of the characters and culture in investment banking. How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Mon... To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. That book was too brief and seethed with rancour. The story was as entertaining as it was informative. A must-read for everyone, especially before considering buying any of structured products offered by banks. FIASCO is the shocking story of one man’s education in the jungles of Wall Street. For a description of the mortgage derivatives market, I recommend Barrons Just How Sub Is Subprime? Top subscription boxes – right to your door, How the Scots Invented the Modern World: The True Story of How Western Europe's Poorest Nation…, © 1996-2020, Amazon.com, Inc. or its affiliates. That book was too brief and seethed with rancour. Please try again. How the Scots Invented the Modern World: The True Story of How Western Europe's Poorest Nation Created Our World & Everything in It, The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy, Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company, Unknown Market Wizards: The best traders you've never heard of, The Wealth and Poverty of Nations: Why Some Are So Rich and Some So Poor. As far as I know it is the best book on derivatives. About Fiasco. I picked it up because i want to read something easy, and I recall munger said this book will make you sick so I’m intrigued. Too many "tell-all" tales from whistleblowers emanate from unhappy ex-employees, neophytes and part-timers. Will it work now? I didn’t expect such a bad quality book which was very unlike the other penguin books. Deep Simplicity: Bringing Order to Chaos and Complexity, When Genius Failed: The Rise and Fall of Long-Term Capital Management, My Life as a Quant: Reflections on Physics and Finance, A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market, The Winner's Curse: Paradoxes and Anomalies of Economic Life. As a young derivatives salesman at Morgan Stanley, Frank Partnoy learned to buy and sell billions of dollars worth of securities that were so complex many traders themselves didn''t understand them. Just a moment while we sign you in to your Goodreads account. Free shipping. Situation. There was a problem loading your book clubs. Little had this man known what still had to come ... but we were warned. Melissa Albert burst onto the YA scene (and catapulted into readers' hearts) with her 2018 debut The Hazel Wood. Or maybe your company needs to book some major profits now, with risks and losses deferred to another day (preferably when you no longer work for the company). This darkly fantastical... To see what your friends thought of this book, People wanting to get some understanding of Wall Street without being bored to death. And he takes us t. 'Fiasco' is the shocking story of one man's education in the jungles of Wall Street. Refresh and try again. Let us know what’s wrong with this preview of, Published I gave this book five stars, not because it's a brilliant piece of literature, but because everyone should read it. "If it sounds to good to be true, it probably is." The story was as entertaining as it was informative. Unable to add item to List. Find all the books, read about the author, and more. Another great read of the current financial situation. There are no discussion topics on this book yet. Please try your request again later. This is a pretty important book for most investors out there. For a window into the making and marketing of derivatives, please read the book Fiasco: The Inside Story of a Wall Street Trader (recommended by correspondent Cheryl A.). Last one. Because their buyers-- school districts, insurance companies, state pensions funds, municipalities are frequently prevented from buying lesser grade investments. It feels and look like a pirated version of actual book. We work hard to protect your security and privacy. Quite detailed information on different events and culture of wall Street. MUST READ. It is a surprisingly interesting read. As a young derivatives salesman at Morgan Stanley, Frank Partnoy learned to buy and sell billions of dollars worth of… Last one . The book was written in an easy-to-follow way that even those who don't deal with derivatives day in and day out will be able to clearly understand what was going down. He discusses those, as well as the ones Morgan Stanley worked on. Got a piece of financial crap that you want to get rid of? His tone is cocky and snarky and while I have no doubt that many traders and salesmen were disgusting, reprehensible assholes, engaging in locker room antics, as he says, the book also seems rife with caricatures and exaggerations, somewhat like, One of the best accounts of what really goes on inside Wall Street investment banks. Got a piece of financial crap that you want to get rid of? Mexican bonds, perhaps, or subprime mortgages. 'Fiasco' is the shocking story of one man's education in the jungles of Wall Street. Frank has a unique since of humor that pulls the book along and keeps you laughing. This book gets down and dirty. We’d love your help. If you loved Liar's Poker then you would like this one too. It accurately captures the tone and atmosphere of being on a derivatives trading floor. Mexican bonds, perhaps, or subprime mortgages. FIASCO is the first book to take on the derivatves trading industry, the most highly charged and risky sector of the stock market. Reviewed in the United States on February 5, 2017. 'Fiasco' is the first book to take on the derivatves trading industry--the most highly charged and risky sector of the stock market. Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free. No matter, the story was mostly the same as any recession and why we got there, just switch around some dates. Autobiographies often can be self promoting and have hidden agendas, but I did not find this book to be annoying. In his behind-the-scenes look at the trading floor and the offices of one of the world's top investment firms, Partnoy recounts the macho attitudes and fiercely competitive ploys of his office mates. Gives breakdowns about how investment banking works and who stands to lose the most money. I've read several of his other books - he's a professor of law and economics but writes in a less technical level in this book than his scholarly papers. Excellent, scarily truthy, book -- real eye-opener. [PDF] FIASCO: Blood in the Water on Wall Street: Blood in the Water on Wall Street Full Collection If you enjoyed Wolf of Wallstreet, you’ll devour this. It is especially visible in financial product innovation, where incentives are twisted, risks are hidden/unknown, and short-termism is rampant. (Prices may vary for AK and HI.). I actually bought this book as I was trying to learn more about the recent financial crisis. The approach of the author was almost as though he himself were a bystander, without any ability to decide whether he was capable of stopping the giant snowball careening down the mountain. Then use it to make money for the rest of your life. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. Partnoy meticulously explains complex derivative structures, highlighting how they were developed and designed to deceive the dupes. As the author points out, this includes millions of Americans who own mutual funds or certain equities. Download books for free. (good explanation of mortgage derivatives). Here's how it works. This book takes off from where Greg Smith's "Why I Left Goldman Sachs" ends. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. Think Wall St. is messed up now? 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