This review was submitted by jhbchina.
This book's focus is on the financial markets. It is not a "how to" book and has no actionable items to apply to improve managing your office or personal finances.
"Once again Michael Lewis helps the average Jane and Joe understand the complex world of high finance. Since the mid 80's the US markets have been more volatile than the best amusement parks. In this book, Michael Lewis has gathered a collection of short stories from editorial financial gurus such as Paul Krugman and Lester Thurow, and many others to recreate the modern financial time-lines that show the re-occurring financial panics.
He takes us through each financial boom and bust. With each cycle the stories give us some insight about the possible causes and changes made to the financial system to limit these trends from happening again. However, the world of finance adjusts to these changes and repeats the trend all over again.
This book travels through the crash of 87, the Asian crisis, the dot com bubble and all the way till the current crisis in the mortgage markets. Along the way we meet the masters of the universe of finance from all walks of life. Hedge fund traders and how they influence the bond markets, online day trades and how they ran Books-a-Million up over 500% in two days, and how it crashed just as fast. We learn about computer trades programs and real estate developers who build modern day ghost towns.
This book was slow reading in the beginning part, though it picks up speed and interest as it comes up to the present. If you like learning a bit more about the financial markets, this book will give you a new view of the landscape."