Title: A hate letter from a writer to his ex-colleagues
Review: The writer clearly detests his Morgan Stanley ex-colleagues at a deeply personal level. The book is not only void of a single kind remark on any of them, but it also contains a number of surprising low-level shots. For example, by the end of the book we are given the extension number of the derivatives division at Morgan Stanley. What purpose can that serve? In fact, some of people that he does his best to portray in a most damaging manner, come through as normal though rather eccentric people operating under great stress. Finally, I felt that the writer has oversimplified derivatives beyond recognition. Yes, there is more to bonds than "positive convexity is good"! On the other hand, I enjoyed reading the descriptions of certain derivatives products if only because such information is not available in the textbooks. All in all, my impression is that this was an attempt to write a second 'Liar's Poker', but the attempt is not successful.
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