October 31st, 2013
Business in Society
Liar’s Poker Analysis
The book Liar’s Poker begins with Michael Lewis, the author saying "Wall Street,” reads the sinister old gag, "is a street with a river at one end and a graveyard at the other.” This quote, symbolizing competitiveness, refers to the river as growth and prosperity and the graveyard as death in a company proves to be the fundamental principle that led Michael Lewis to write this book. The book portrays Michael Lewis’ time with Salomon Brothers (SB), the largest bond dealer in the 1980s. It outlines the business model that SB used to maximize capital in the mortgage bond market. By the mid- 1980’s SB had become the most influential bond dealer in the market. …show more content…
John Gutfreund- CEO of Salamon Brothers. Considered the king of wall street in the book. Michael Lewis looked up to him and wanted to be as successful as him at one point.
John Meriwether- Considered to be the king of Liars Poker. Liars Poker is a game of strategy and wit where players have to guess how many of each number appear on all the serial numbers of the dollar bills of everyone playing ex.4 3’s, next person says 4 4’s next person says 5 2’s and so on. Game ends when someone says I doubt it which indicates they think the other person is bluffing Then they show the dollar bill and whoever wins wins the bet. Similar to bond trading in that you set the price and go as high