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Thursday, July 25, 2013

The buy side : a Wall Street trader's tale of spectacular excess

View full imageby Turney Duff     (Get the Book)
With the twists and turns of a suspense novel, this autobiographical account of the rise and fall of a hedge fund trader exposes the risks and liabilities of a career on Wall Street during one of the most turbulent decades of the financial industry. Duff's 15-year career parallels the peaks and valleys of the stock market, from the boom of the 1990s to the tumultuous decline in the early 2000s. With unabashed honesty, he tells how he went from an entry-level position in Morgan Stanley in 1993 to successful trader on the buy side before his excessive partying and downward spiral into drugs ended his career and he had the courage to walk away for good. He exposes the occupational hazards of his high-pressure trading jobs, the lure of power and money when million-dollar trades were commonplace, insider alliances were useful, and collusion was a part of the business. Fast-paced and gritty, this is a fascinating and convincing portrayal of one trader's challenges in a tough environment and his ultimate redemption. --Booklist