March 2026’s book selection from 1,000 Books to Read Before You Die by James Mustich is Liar’s Poker by Michael Lewis. Mustich says:
“Liar’s Poker is the deliciously comic story of how an art history major from Princeton parlayed a master’s degree from the London School of Economics - and an advantageous seating arrangement at a dinner for the Queen Mother - into a position as a bond trader on Wall Street in the high-flying 1980s. It offers an irreverent inside look at the world of investment banking as it flourished before the crash…”
This topic will open for discussion on April 1, 2026.
Happy April! I’ve opened this topic so we can start talking about Liar’s Poker by Michael Lewis. Please post your comments below! (Mine will be up by the end of the week, but I’m still reading…)
From what I’ve seen elsewhere, it sounds like it was a challenging book. I’d like to know not only your opinion of it, but also why you think it was included in 1000 Books.
If understanding the economics of bond markets were essential to the enjoyment of this book I had to struggle because they are not explained very well. The book was really about the dysfunctions in the industry as it evolved in the early 1980s. The dysfunctions were explained through a continuous series of anecdotes, mostly about Solomon Brothers but also about the industry as a whole. This appeared to be the story line because I could find no other real plot.
As I reported earlier, I did not; could not finish the book. This was a series of anecdotes, and as Lynne said, highlighted the dysfunctions in the bond market. And perhaps this is why the book was one of 1000. It’s a warning and signals what can and did go wrong. A reader who worked in the environment during that time could reflect and recall similar personal experiences. I can’t imagine that a young adult considering a career in the market would think the book interesting and insightful given the decades that have past. At best they might read it as historical nonfiction and only if it was required for an econ class.
I guess I’m the outlier this time around, LOL. I actually liked the book quite a bit. It was kind of like a train wreck - I was horrified by the juvenile behavior but I just couldn’t look away! I thought it was both very funny and very wrong in soooo many ways.
I did find that it dragged in some of the sections when Lewis dug into the details of some of the bond markets, but generally they didn’t slow me down too much.
Overall, I’m glad I had a chance to read it.
I really would love to talk to this author now, more than 30 years after the book was published. Did you know he wrote Moneyball, and was heavily involved in writing the script for the movie? I’d suggest a Q&A with him, but I imagine the book & author would have limited interest.
Not for me. I admit my opinion of the book was tainted by what I already knew about Salomon Brothers bond scandal, near bankruptcy, and the corporate culture that promoted unethical financial decisions. As a result, it was difficult for me to appreciate or find humor in the competitiveness, cavalierness, and irresponsibility of the company’s associates and leadership. However, I can understand how the book could be perceived as a fascinating glimpse into an extreme organizational culture…a reality show in book form.
I read several reviews written when the book was first published and some more recently. The overall consensus was that the book provided insight into the markets with humor as well raw depictions of reality. Most said it was a worthwhile read for people who have a great interest in the topic… which is likely why I turned off the audio after an hour of trying!
I didn’t want to say anything, @NanK, but I didn’t think it was going to work for you as an audiobook. I think it would be super confusing to try to listen to it. Probably boring, too, unless they picked just the right narrator.
I rarely use an audiobook, which was part of the problem. I thought the author was narrating this version, but I didn’t confirm. The audio did provide a bit of snooze time, though!
I know! I had a very difficult time understanding the economics of it…and finally just gave up trying to, although I did finish the book. It was pretty crazy how haphazardly things were run on Wall Street then (and now???). It felt like an out-of-control fraternity party that somehow qualified as work.
I like your description of a reality show in book form. I didn’t see much humor in it, either. Too much was at stake for their petty games to be funny. It was actually more of a horror story than a comedy.
Michael Lewis has written many books, and the others that I have read are all exceptional, which is why I had such high hopes for “Liar’s Poker.”
I most highly recommend “Who Is Government?: The Untold Story of Public Service,” a book with eight essays about specific federal employees and the work they do.
Michael Lewis, along with writers Casey Cep, Dave Eggers, John Lanchester, Geraldine Brooks, Sarah Vowell, and W. Kamau Bell, discovered eight obscure government employees doing extraordinary work—and no one has ever heard of them. Until now. Their stories are fascinating, and it’s only a miniscule number, compared with all the other obscure feds doing extraordinary work.
Rosemary Freitas Williams, a former assistant secretary of public affairs at VA, told Casey Cep that joining the civil service is basically like being in the Witness Protection Program: “No one ever knows about the good you do.”
I finally finished Liar’s Poker and am grateful to be done with it. I had a heck of a time getting a copy through Interlibrary Loan as well as being on hold for weeks for the audiobook on Cloud. Having to listen to the audiobook didn’t do anything for my enjoyment or retention of it. I’m not a financial aficionado so most of what the author/narrator was talking about went right over my head. The one aspect that did strike me was the arrogance of the “players” and their disdain for what their actions did to people. After having finished listening to it, I was certainly glad I had held off from purchasing it when I was having to wait so long.
You lasted longer than did I with the audio version! Yet, the arrogance of the culture was evident, and I suspect hasn’t changed in the financial arena.
