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Liar's Poker
''Liar's Poker'' is a non-fiction, semi-autobiographical book by Michael Lewis describing the author's experiences as a bond salesman on Wall Street during the late 1980s. First published in 1989, it is considered one of the books that defined Wall Street during the 1980s, along with Bryan Burrough and John Helyar's '' Barbarians at the Gate: The Fall of RJR Nabisco'', and the fictional '' The Bonfire of the Vanities'' by Tom Wolfe. The book captures an important period in the history of Wall Street. Two important figures in that history feature prominently in the text, the head of Salomon Brothers' mortgage department Lewis Ranieri and the firm's CEO John Gutfreund. The book's name is taken from liar's poker, a gambling game popular with the bond traders in the book. Overview The narrative of ''Liar's Poker'' jumps back and forth between two different threads. One thread is autobiographical: it follows Lewis through his college education, his hiring by Salomon Brothers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Lewis (author)
Michael Monroe Lewis (born October 15, 1960) Gale Biography In Context. is an American author and financial journalist. He has also been a contributing editor to '' Vanity Fair'' since 2009, writing mostly on business, finance, and economics. He is known for his nonfiction work, particularly his coverage of financial crises and behavioral finance. Lewis was born in New Orleans and attended Princeton University, from which he graduated with a degree in art history. After attending the London School of Economics, he began a career on Wall Street during the 1980s as a bond salesman at Salomon Brothers. The experience prompted him to write his first book, '' Liar's Poker'' (1989). Fourteen years later, Lewis wrote '' Moneyball: The Art of Winning an Unfair Game'' (2003), in which he investigated the success of the Oakland Athletics baseball team and their general manager Billy Beane. His 2006 book '' The Blind Side: Evolution of a Game'' was his first to be adapted into a film, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Milken
Michael Robert Milken (born July 4, 1946) is an American financier. He is known for his role in the development of the market for High-yield debt, high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony charges for violating U.S. securities laws. Milken's compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S. income at that time. With a net worth of 6 billion as of 2022, he is among the richest people in the world. Milken was indicted for racketeering and securities fraud in 1989 in an insider trading investigation. In a plea bargain, he pleaded guilty to securities and reporting violations but not to racketeering or insider trading. Milken was sentenced to ten years in prison, fined $600 million (although his personal website claims $200 million) and permanently barred from the securities industry by the U.S. Securities and Exch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phone Sex
Phone sex is a conversation between two or more people by means of the telephone which is sexually explicit and is intended to provoke sexual arousal in one or more participants. As a practice between individuals temporarily separated, it is as old as dial telephones, on which no operator could eavesdrop. In the later 20th century businesses emerged offering, for a fee, sexual conversations with a phone sex worker. Phone sex takes imagination on both individuals' part, as each party imagines virtual sex. The sexually explicit conversation takes place between two or more persons via telephone, especially when at least one of the participants either masturbates or engages in sexual fantasy. Phone sex conversation may take many forms, including: guided fantasy, sexual sounds, narrated and enacted suggestions, sexual anecdotes and confessions, candid expression of sexual fantasies, feelings, or love, or discussion of personal and sensitive sexual topics. Once means of transmitti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journalist
A journalist is a person who gathers information in the form of text, audio or pictures, processes it into a newsworthy form and disseminates it to the public. This is called journalism. Roles Journalists can work in broadcast, print, advertising, or public relations personnel. Depending on the form of journalism, "journalist" may also describe various categories of people by the roles they play in the process. These include reporters, correspondents, citizen journalists, Editorial board, editors, Editorial board, editorial writers, columnists, and photojournalists. A reporter is a type of journalist who researches, writes and reports on information in order to present using source (journalism), sources. This may entail conducting interviews, information-gathering and/or writing articles. Reporters may split their time between working in a newsroom, from home or outside to witness events or interview people. Reporters may be assigned a specific Beat reporting, beat (area of cov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Takeover
In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are publicly listed, in contrast to the acquisition of a private company. Management of the target company may or may not agree with a proposed takeover, and this has resulted in the following takeover classifications: friendly, hostile, reverse or back-flip. Financing a takeover often involves loans or bond issues which may include junk bonds as well as a simple cash offer. It can also include shares in the new company. Takeover types Friendly takeover A ''friendly takeover'' is an acquisition which is approved by the management of the target company. Before a bidder makes an offer for another company, it usually first informs the company's board of directors. In a private company, because the shareholders and the board are usually the same people or closely connected with on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". When expenditures and receipts are defined in terms of money, then the net monetary receipt in a time period is termed cash flow, while money received in a series of several time periods is termed cash flow stream. In finance, the purpose of investing is to generate a Return (finance), return on the invested asset. The return may consist of a capital gain (profit) or loss, realised if the investment is sold, unrealised capital appreciation (or depreciation) if yet unsold. It may also consist of periodic income such as dividends, interest, or rental income. The return may also inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Western Europe, with a population of 14.9 million. London stands on the River Thames in southeast England, at the head of a tidal estuary down to the North Sea, and has been a major settlement for nearly 2,000 years. Its ancient core and financial centre, the City of London, was founded by the Roman Empire, Romans as Londinium and has retained its medieval boundaries. The City of Westminster, to the west of the City of London, has been the centuries-long host of Government of the United Kingdom, the national government and Parliament of the United Kingdom, parliament. London grew rapidly 19th-century London, in the 19th century, becoming the world's List of largest cities throughout history, largest city at the time. Since the 19th cen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Queen Mother
Elizabeth Angela Marguerite Bowes-Lyon (4 August 1900 – 30 March 2002) was Queen of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 to 6 February 1952 as the wife of King George VI. She was also the last Empress of India from 1936 until the British Raj was dissolved on 15 August 1947. After her husband died, she was officially known as Queen Elizabeth The Queen Mother to avoid confusion with her daughter Queen Elizabeth II. Born into a family of British nobility, Elizabeth came to prominence in 1923 when she married Prince Albert, Duke of York, the second son of King George V and Queen Mary. The couple and their daughters, Elizabeth and Margaret, embodied traditional ideas of family and public service. The Duchess undertook a variety of public engagements and became known for her consistently cheerful countenance. In 1936, Elizabeth's husband unexpectedly ascended the throne as George VI when his older brother, E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London School Of Economics
The London School of Economics and Political Science (LSE), established in 1895, is a public research university in London, England, and a member institution of the University of London. The school specialises in the social sciences. Founded by Fabian Society members Sidney Webb, Beatrice Webb, Graham Wallas and George Bernard Shaw, LSE joined the University of London in 1900 and offered its first degree programmes under the auspices of the university in 1901. LSE began awarding degrees in its own name in 2008, prior to which it awarded degrees of the University of London. It became a university in its own right within the University of London in 2022. LSE is located in the London Borough of Camden and Westminster, Central London, near the boundary between Covent Garden and Holborn. The area is historically known as Clare Market. As of 2023/24, LSE had just under 13,000 students, with the majority being postgraduate students and just under two thirds coming from outsid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lehman Brothers
Lehman Brothers Inc. ( ) was an American global financial services firm founded in 1850. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide. It was doing business in investment banking, equity, fixed-income and derivatives sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008. On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. The collapse was largely due to Lehman's involvement in the subprime mortgage crisis and its exposure to less liquid assets. Lehman's bankruptcy filing is the largest in US history, having ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
