"Guaranteed to make blood boil." —Janet Maslin, New York Times
In Michael Lewis's game-changing bestseller, a small group of Wall Street iconoclasts realize that the U.S. stock market has been rigged for the benefit of insiders. They band together—some of them walking away from seven-figure salaries—to investigate, expose, and reform the insidious new ways that Wall Street generates profits. If you have any contact with the market, even a retirement account, this story is happening to you.
It was wonderful to be young and working on Wall Street in the 1980s: never before had so many twenty-four-year-olds made so much money in so little time. After you learned the trick of it, all you had to do was pick up the phone and the money poured in your lap.
This wickedly funny book endures as the best record we have of those heady, frenzied years. In it Lewis describes his own rake’s progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the jungle, a bond salesman who could turn over millions of dollars' worth of doubtful bonds with just one call.
As he has continued to do for a quarter century, Michael Lewis here shows us how things really worked on Wall Street. In the Salomon training program a roomful of aspirants is stunned speechless by the vitriolic profanity of the Human Piranha; out on the trading floor, bond traders throw telephones at the heads of underlings and Salomon chairmen Gutfreund challenges his chief trader to a hand of liar’s poker for one million dollars.
Descubre el libro en el que se ha inspirado la película que ya ha sido nominada a cinco Óscar.
La gran apuesta es la excepcional crónica del crac inmobiliario que originó la mayor crisis de los últimos ochenta años. Cuando en otoño de 2008 la economía estadounidense se hundió, arrastrando tras de sí a buena parte del mundo desarrollado a una crisis de la que aún no hemos salido, a un grupo de personas no le sorprendió en absoluto. Eran unos cuantos inversores y analistas inteligentes que habían comprendido lo que estaba pasando, pero no dijeron nada, paralizados por el miedo y las posibles ganancias.
La pregunta clave que plantea Michael Lewis es: ¿quién se dio cuenta del riesgo que suponía dar por sentado que los precios del sector inmobiliario seguirían siempre al alza? Un riesgo complicado, además, por la creación de esos activos extraños y artificiales a partir de hipotecas dudosas. Para contestar esta pregunta, Lewis nos presenta una historia increíble a través de los personajes que la protagonizaron, plena de indignación y oscura ironía.
«Probablemente el mejor libro de periodismo financiero de la historia.»
Felix Salmon, Reuters
«El mejor contador de historias de nuestra generación.»
«Nadie escribe con mayor agilidad narrativa sobre dinero y finanzas que Michael Lewis. Logra usar las historias de sus protagonistas para explicar la avaricia, la estupidez y la hipocresía de un sistema con una carencia notoria de supervisión seria. Con un estilo parecido al de Tom Wolfe, Lewis consigue introducir al lector de modo colorido en el mundo darwiniano del mercado de bonos.»
Michiko Kakutani, The New York Times
An astonishing account of what it is like to die and experience a day in the Afterlife, during which the author was told how things really are! The author ventures into areas where few dare to tread.
At last sober facts not speculation about the paranormal from an objective, unbiased researcher who tries to take a scientific viewpoint.
Michael Lewis writing rings with truth and authenticity.
It is a carefully selected and finely expressed group of closely related, well defined and chosen concepts, no doubt from a personal experience that is even wider than that which we here are privileged to share.
The material is presented in a narrative context, and will engage and often astonish the reader.
Michael demonstrates that we are but at the very edge of knowledge, and that all we can see is a small corner of the whole.
A book like this gives us the chance to lift the veil a little, and glimpse the vast uplands beyond.
He has the ability to set down the material clearly and with an attractive writing style, the prose is as clear as a window-pane.
- Mark Sykes, former Editor-in-Chief, Athena Press
We find ourselves between a rock and a hot place—compelled by the intertwined forces of peak oil and climate change to reinvent our economic life at a much more local and regional scale. The Resilience Imperative argues for a major SEE (social, ecological, economic) change as a prerequisite for replacing the paradigm of limitless economic growth with a more decentralized, cooperative, steady-state economy.
The authors present a comprehensive series of strategic questions within the broad areas of:
Each section is complemented by case studies of pioneering community initiatives rounded out by a discussion of transition factors and resilience reflections.
With a focus on securing and sustaining change, this provocative book challenges deeply embedded cultural assumptions. Profoundly hopeful and inspiring, The Resilience Imperative affirms the possibilities of positive change as it is shaped by individuals, communities, and institutions learning to live within our ecological limits.
Michael Lewis is the executive director of the Center for Community Enterprise and is well-known internationally as a practitioner, author, educator, and leader in the field of community economic development.
Patrick Conaty is an honorary research fellow at the University of Birmingham and a director of Common Futures. Since 1999 he has worked for the new economics foundation (nef), where he has produced a wide range of publications about predatory lending, financial inclusion, community land trusts, and social venture finance.