Finished it this afternoon. It was pretty good. Not that I‘ll ever try to trade mortgages in the manner he did, but it was a good story. The broad strokes offer a lesson or two.
I'm on page 158. So far, there hasn't been much to chew on. It reads more like a memoir than about Wall Street. But I digress. I did get sidetracked and did a little search on Gupta the trader on Youtube, and this came to my attention.
Yes, it’s a memoir. I didn’t expect it to be anything else. He only vaguely discusses his trading approach to broadly point out how it differs from the norm. It’s not a how-to book.
Well, he was always mentioning how he will "crack" the system, be it blackjack or wall street. So I was vaguely hoping he would spill the beans about his covert operation.
Yes, and so did I! It was worth a one-time read, though I agree with schizo, it would have been nice to give a few more details... I didn't know that Lehman Bros was such a shady and shitty place before.... I wonder if that's part of the reason Paulson let it burn to the ground in TGFC. Now, I've decided to return back to "The Bitcoin Standard". Which, definitely is a great book, and the reviews are pretty much spot-on for once. If you are the type that loves reading Zero Hedge, or wish to understand how money (really works) throughout time and space, then this one is for you. One interesting thing to note: I see one of my reserves has finally come in at the library that I've been waiting for... for months: I am expecting this book to really suck. Which... is part of the reason I reserved it. Seems there must be a lot of suckers going for it, as my local library has no less than SIX copies of the paper-book in place, and the list of reserves waiting is quite long.
"My Insider's Playbook for Making a Fortune on Wall Street", eh? I'm interested, but having seen his Youtube vids, I'm skeptical at best.
%% MAY or may not be a drunk library worker, 6 copies ?? Too few reviews for me to buy in to that @ present time. HIs Way of the Wolf has a lot more good reviews, but dont have time to read them all.But good pattern fragments ''Straight Line Selling ,Master The Art...... LOL;; I use more curved moving aVerages , but that's me. Worth $115 million, most likely after prison time; less than IBD sale of WO'N newspaper or rich Rich dennis
Alright, I've got a limited time to read the Wolf book, since a lot of people are waiting and the library won't allow me to renew, lol. I started today, the first 30 pages aren't too bad. It's aimed at beginning investors, but to be honest, it's not too bad for what it's supposed to do, and considering it's from a con-artist. lol Starts off by him analyzing a relative's trashed 100K portfolio after a 30-days of day-trading gone-wrong incident. The portfolio ended up with only 3K left... Securities involved and discussed (so far) are typical S&P, crypto/shit coins, and NFTs. I am actually curious to see tomorrow what else he says, hopefully, I am not disappointed. But so far, it's much better than I thought (for beginners).
I've now read up to around page 60. Was surprised to see there is no co-author on this book, since again, it's not as bad as I thought. I still wonder if he had some sort of ghost-writer... Though, the language certainly does seem like him. Not the kind I expect from the normies of trader/investor books you see published from the likes of Wiley for example. --- ... Using a letter-based rating system, with "Aaa" being reserved for the most creditworthy entities and "C" being reserved for the biggest pieces of shit, its credit ratings are used by investors, financial institutions, and corporations all over the world. ... Bullshit, with a capital B! ... NOW LET'S MOVE ON to the hard way, which, to put it bluntly, is really fucking hard. ... Now, according to the geniuses over at McKinsey & Company (the blue-chip consulting firm that was directly responsible for convincing the US government and the country's largest corporations to gut America's manufacturing base and ship all those jobs over to China so they could exploit all that cheap labor for a few decades, while they quietly paved the way for China to ultimately take over the world), the sum total of all those aforementioned assets is approximately $1.5 quadrillion. Now, just so you can get a sense of how gigantically fucking enormous that number is... Now, that is one big-ass number, right?
Just a head's up on Michael Lewis' latest book. I will be picking it up this week from the reserve list. I did not expect to get it so early, but it looks like the local library purchased (so far) 34 copies of the same book! I did not realize my city had such a big demand for everything crypto. Makes me suspect that the next Bitcoin cycle is going to possibly meet Cathy Wood's expectations...