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Traders, Guns & Money: Knowns and unknowns in the dazzling world of derivatives
- By Satyajit Das
- Published Aug 29, 2006 by FT Press.
- Copyright 2006
- Dimensions: 6x9
- Pages: 352
- Edition: 1st
- Book
- ISBN-10: 0-273-70474-5
- ISBN-13: 978-0-273-70474-4
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As featured on NPR's All Things Considered, October 15, 2008
Product Author Bios
Satyajit Das is a leading international authority in the area of financial derivatives and treasury management. He was the treasurer for the TNT Group on Australia for six years. Prior to this he worked in the Commonwealth Bank of Australia, Citicorp Investment Bank and Merrill Lynch Capital Markets. He is the author of Swap Financing and has published widely on financial derivatives, corporate finance, treasury and risk management. He has presented seminars on financial derivatives and treasury management/corporate finance all over the world.
Liar’s Poker with more lies and more insight,Traders, Guns & Money is a sensational insider’s view of the business of trading and marketing derivatives for a living. It reveals the nature of the business, the players and how the real money is made and lost. An accessible companion, a wise counsel and a great read.
- A sensational and controversial first-person account of the business of derivatives trading and the financial products industry.
- Offers a true insider’s view.
- Funny and poignant, written in a wry and wickedly comic style.
- Reveals how shareholders, clients, regulators, and the tax paying ordinary public bear most of the risk in the trading rooms.
- Reveals the story of how one set of clients discovered the perils of unknowns in a derivatives deal.
- Traders, Guns & Money cleverly weaves together: the dazzling world of derivatives and how to work out what you know, don't know and need to know; an insider’s, expert witness account of the rise and rules of the world of derivatives and the astonishing story of how one set of clients discovered the perils of unknowns in a derivatives deal.
- Benchmark: Liar’s Poker 0340767006.Das now offers more lies and is set in today’s derivatives market, and Traders Gun's and Money is written not by a journalist but by a world-famous insider.
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62 of 63 people found the following review helpful
Required reading for finance majors, By Joe Kolman (Jackson Heights, NY United States) - See all my reviews
This review is from: Traders, Guns & Money: Knowns and unknowns in the dazzling world of derivatives (Paperback)
This is not another journalist musing on the financial world. This is not an academic explanation of how financial instruments work. It's something else entirely -- a rare inside glimpse into the world of derivatives by a literate professional who's been a handshake away (or closer) from the major events in the market. Das leavens a series of technical discussions about particular strategies with more entertaining glimpses into the culture the drives the deals. Although I have bones to pick with the book's episodic structure, I can't think of a better way to get a crash course in how the capital markets really work.
88 of 93 people found the following review helpful
The starting point to the world of derivatives, By
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This review is from: Traders, Guns & Money: Knowns and unknowns in the dazzling world of derivatives (Paperback)
"Knowns and unknowns in the dazzling world of derivatives" great subtitle and the author really delivers. I love books on finance. Possibly stemming from being dropped on my head as a child. Some are pretty brutal to read but this one is as entertaining as it is educational.I was familiar with some derivatives like futures contracts and options, before reading this book. Now derivatives like CDO (Collateralized Debt Obligations), CCO (Commodity Collateralized Obligations), currency swaps, interest rate swaps, or even inverse floaters make sense to me. Obviously I am far from being an expert on any of these, but after reading this book I can now understand why Warren Buffet called derivatives "Financial Weapons of Mass Destruction". The author does a great job educating you in story-like fashion. The book told of numerous investors that ended up getting screwed by some pretty good salespeople at different dealer firms. Buyer beware comes to mind time and... Read more
66 of 74 people found the following review helpful
A double agent's account of his life as a spy, By
This review is from: Traders, Guns & Money: Knowns and unknowns in the dazzling world of derivatives (Paperback)
As a derivatives trader I've seen many of my colleagues who just enter the field paying hundreds of dollars for thousands of pages of Mr. Das highly unreadable and stupefying compendiums on the subject of structured products. It is impossible to imagine a more serious and devote approach to derivatives than that exuding from his technical volumes. In comparison this new book feels like a gush of fresh air and while demystifying and ridiculing what used to be his bread and butter Mr. Das may look a bit cynical it is an honest book full of interesting and plausible examples and stories. For novices it can be very educational and for experts quite entertaining. It is like a memoir of a spy who turned out to be a double agent on his lifetime in secret services. When a guy knows so much who cares what side he was serving on?
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Table of Contents
Prologue
1. Financial WMDs - derivatives demagoguery
2. Beautiful Lies - the 'sell' side
3. True Lies - the 'buy' side
4. Show Me The Money - greed lost and regained
5. The Perfect Storm - risk management by the numbers
6. Super Models - derivatives algorithms
7. Games Without Frontiers - the inverse world of structured products
8. Share and Share Alike - derivative inequity
9. Credit Where Credit Is Due - fun with CDS and CDO
Epilogue
Book
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