Liar's Poker Summary and Analysis

Liar's Poker relates actions and events that occur primarily in New York and London from the years 1979 to 1988. Michael Lewis writes about the experiences, traits and character of managers, employees, customers and competitors of Salomon Brothers Wall Street investment bank. He writes from his own experience as job applicant, trainee and bond salesman to 1988.

Early in 1986, John Gutfreund, Chairman of the declining Salomon Brothers investment firm, walks around the trading floor to gather information about the day's business. His meanderings about the department are disconcerting to the traders who feel a need to be busy as he approaches. Ironically his name is pronounced "Good friend" but he stirs fear like a grizzly bear in silent approach to a small animal. He may not say anything but the telltale expensive cigar ash he drops shows his presence. The King of...