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F.I.A.S.C.O. - Blood in the Water on Wall Street

Frank Partnoy

In his vivid account of life as a derivatives trader for Morgan Stanley, Frank Partnoy examines the firm's "there's blood in the water, let's go kill someone" attitude towards derivative sales. Giving a true insider account, Partnoy reveals how derivatives have been used by major investment banks for years in deals he often compares to the money laundering schemes of the mafia.

Required reading for anyone interested in understanding derivatives. The book is well written and the author really goes in depth with descriptions of several of the trades, although this may seem lengthy at times, it does offer an excellent means of understanding why people buy derivatives, how they work, and why they on occasions go sour. Recommended.

Reviewed by Henry Tang. Click here to buy this book at Amazon.co.uk.

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