Burrough and Helyar – Barbarians at the Gate
This is supposedly one of the great business books of all time, describing the true story of the making of one of the largest leveraged buyout deals of all time. It follows a large cast of characters and firms on Wall Street in the eighties in a complex and fast paced plot, and gives a good picture of the financial landscape of the time.
Though I did enjoy reading this, and had my eyes opened to some of the practices prolific on the street, IĀ found this book fairly hard going. Written from the third person perspective, it gives a neutral perspective on events, which at times was a little dry. The number of characters also makes it slightly hard to really understand some of the decisions that were made, although the authors do go to lengths to give depth to the major players.
Overall, it’s a book I’m glad to have read, and will probably pick up and read again at some point.
Niall Ferguson – The Ascent of Money
R bought me this as a Christmas gift, and she did a good job picking it! As the book points out, with today’s developing major economic events unfurl, it’s easy to forget that there are hundreds of years of economic records and history to look back at. This book looks back at the development of our financial system, just about as far as history goes, and progresses forward to the events around 2008. It does get technical in it’s explanations, and there are facts, stats, and graphs, but these things are offset by Ferguson’s great ability to explain concepts clearly whilst telling a story. And there are photos, what more can you ask for?
Michael Lewis – Liar’s Poker
This book is referenced in Barbarians at the gate, and being a story of Wall Street in the 80′s, shares some characters and a lot of principles. It is written in the first person, describing the career of a bond trader at Salomon Brothers. I’ve only started reading this, but am thoroughly gripped by the writing style and looking forward to reading more.