Cityboy (Geraint Anderson)

Trader's Library #13 · Speculation classics and biographies. A satire of the pre-2008 City with one important lesson about recommendations.

Author: Geraint Anderson · Original: Cityboy: Beer and Loathing in the Square Mile · Year: 2008 · Usefulness for traders: ★★☆☆☆

What it's about

The memoir of a former City of London analyst describing bankers' lives before the 2008 crisis: bonuses, pressure, conflicts of interest in recommendations and excess in private life.

What it gives a trader

One thread is useful for a trader: how analyst recommendations are produced and why they don't always serve the client. The rest is a social satire of banking culture.

Lessons for traders

• analyst recommendations can be tainted by conflicts of interest
• a big bonus for short-term results encourages risk-taking
• the group's atmosphere changes ethical standards (conformity, Atlas of biases #33)

What to watch out for

Some stories are embellished for effect. More about manners than markets.

Discussion

The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →

Navigation

← #012 Belfort: The Wolf of Wall Street and His Later Books · Library index · #014 Market Wizards (Jack D. Schwager) →

Educational content, not investment advice. The book description is my own summary and assessment, not quotations. Edition details were checked in catalogues and bookshops, and where there was doubt I said so plainly.