Blood in the Water on Wall Street
“Applies an intelligent, clinical eye to [an] excruciatingly complex corner of the financial world.” —New York Times
A classic of its kind, Frank Partnoy’s best-selling FIASCO takes readers inside the rollicking world of derivatives on Wall Street during the mid-1990s. The book tracks Partnoy’s success as a young Morgan Stanley employee who quickly becomes steeped in a culture that treats client as targets to be “blown up” or have their faces “ripped off.” A decade later FIASCO remains one of the most damning and prescient pictures of the speculative frenzies that grip Wall Street and the victims they can leave in their wake. In Partnoy’s case they include well-publicized losses at Orange County, Barings, and Procter & Gamble, among others. A new epilogue written for this edition brings Partnoy’s story—as well as the story of derivatives—up to the present.
- April 2009
- 5.6 × 8.2 in
/ 272 pages
- Territory Rights: Worldwide including Canada, Australia and New Zealand, but excluding the British Commonwealth and the European Union.
Endorsements & Reviews
“It’s hard to imagine a better explanation of how clients can be misled into believing that these sophisticated hedging instruments are safe investments.” — Worth
The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker.More