Bond-market

This readable work helps clarify the vastness and the growth of the world bond market. The focus is mostly on the G-7 countries. Topics include the global economy, technical outlook, and country-by-country politics, ratings, and public debt. The information is dated which is understandable in such a fast moving market. It is a great overview. I would buy a new and expanded edition if it were offered.

The only similarity between this book and Liar's Poker is that they are both about Wall Street. Rather than blame himself for seeking out and then accepting a job he knew he was ill-prepared for, in a city he knew nothing about, Stiles blames everyone and everything else. This, in essence, is why Stiles never made it. NYC and Wall Street are not the types of places for people who are always waiting for something to come to them - you have to go out and get it.

Stiles book has some interesting passages, though it is very clear that he still does not understand why it didn't all work out. Despite the fact that he was "never trained", his passages about the Mexican Peso devaluation and the Orange County Scandal are good summaries. If you work on Wall Street, this book will be entertaining. If you are thinking of working on Wall Street and are as naive as Stiles about "the life", this book will be useful. Otherwise, take a pass and read Michael Lewis's Liar's Poker.

Paul Stiles is a talented writer. Having traded on the Street for over a decade, I can say that I've met all the character types that Stiles describes many times over. He does a very good job of bringing them to life in his book.

If nothing, Wall Street is a collection of personalities which makes for a unique work environment. Stiles finds he doesn't fit in, but he can't accept the fact that his dismal view of working in NYC and on the Street is not universally shared. It's somewhat unfair for him to indict everybody just because he does not share their values, sense of humor, work habits, what-have-you of those with whom he worked for a year.

That said, the book is a fun read and leaves you with the sense that Stiles is an okay guy who you'd wish well in his next endeavour.

Although the author's knowledge of Finance is fairly limited, the book's focus on the political environment inside a Wall Street firm provides valuable insight to the person interested into entering this field.

Many people pursue a career in Wall St. simply to make money; and this was the intent of the author. Furthermore, the author's background is quite similar to those who are entering the field some years after having finished college. Moving from the slow paced lifestyle to the hectic routine of a Wall st. analyst, the author is able to convey the difficult transition into Sales and Trading.

My only wish is that the author focused less on New York lifestyle and more on how a Wall St. firm works. It would have been nice to delve into the investment banking side and equity side. The author is limited by his lack of experience on the street and most of the writing is based on only a short-term experience. For those interested in pursuing a career in Bonds this might be a good read. Also, it is fairly long considering the author doesn't detail too much information. So you've got to look for the subtle things to make some kind of perception.

This is definitely not a read for anyone experienced in Finance. Solely for those interested in getting into the field.