The Buy Side: A Wall Street Trader's Tale Of...

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Tytuł The Buy Side: A Wall Street Trader's Tale of Spectacular Excess

Autor Turney Duff

Wydawnictwo Crown Business New York

Rok wydania 2013

Język angielski

Okładka miękka

Ilość stron 320

ISBN 978-0-7704-3717-6

The Buy Side, by former Galleon Group trader Turney Duff, portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements. A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards - and dizzying temptations - of making a living on the Street.

Growing up in the 1980's Turney Duff was your average kid from Kennebunk, Maine, eager to expand his horizons. After trying - and failing - to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits. Those on the "buy side," the traders who make large bets on whether a stock will rise or fall, are the "alphas" and those on the "sell side," the brokers who handle their business, are eager to please.

How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam. Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible. Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits. Naive enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in sometimes mysterious ways.

Numer magazynowy: SGT4Y/ BOX A 2.2.1