I am writing this review after my second time listening to the audio book. My first listen was about 6 months ago. I consider this book an entertaining and educational experience.
The detail about some of the big trades that Larry and his group undertook while at Lehman. Larry's experiences trying to get into Wall Street were well worth the listen on those merits alone.
The attitude of the author comes through clearly. It was easy to follow along and the actor's voice was easy on the ears.
This book is more about the author's experiences. Lehman serves as a back drop until the final chapters of the book. This book gives you the downfall of Lehman but Larry's biography would do well in motivational seminars. This book is great for investing nuts and financial history buffs.
Say something about yourself!
This book is pretty book. It comes in 2 audio files. The 2nd is the story of the Lehman collapse. The first is the author's life story. If you just care about Lehman, then skip to the second file. You will miss the connection to a couple of the author's friends, but the rest of the story is complete.
The first audio file is not too bad either. But it is an entirely different story.
There is a mistake in the reading of the book. It deals with bond pricing, purchasing and yield to maturity amounts at 1:40. When I couldn't make sense of the numbers, I looked at the physical book (thanks B&N). It should read (or should have been read as): "They are paying 6% annually on that initial $1 million investment for another 5 years which is a total of $300,000. When the bonds mature, the buyer gets the original $1 million back not just the $800,000 he paid. Which represents a straight $200,000 profit. That's a $500,000 total return on the original investment of $800,000 - a yield to maturity of 11.5%"
I'm still working out how he gets the 11.5% figure. It might be compounded somehow, but simple percentage 500/800 / 5 years = 12.5% annually.
GREAT WHILE A BIT TOO MUCH PERSONAL INFO IN THE FIRST FEW CHAPTERS; THE EXPLANTION OF WHAT, WHY AND HOW WE HAD THE FINACIAL MELTDOWN AND WHERE THE MONEY WENT.
VERY INPORTANT. INFO.