T crash that heralded in the Great Depression Despite the financial crisis this blog by Michael Goldfarb notes that the regulators are still not really doing their jobI ve nly highlighted a few Dirty Dozen 2 (12 Taboo XXX Tales) of the points that stoodut to me This book contains A book that I would recommend reading and then reflecting upon Don t worry about the alphabet soup f financial acronyms A glossary is provided at the backIt has not cleared the distasteful impression that I formed during and after the 20078 banking crisis but I do now have a picture that the problems were not just caused by a bunch f immoral and greedy bankers It is complicated than that This book explains the changing nature f banking jobs concepts and biggest scandals in the history f finance all with amazing ease It even tells you about the life f an MD the part about reading all the suspicious emails your subordinates send to each ther flagged to you by Compliance I wish I had read this book at the start f my career in finance Could have saved me hours f scouring Investopedia and desperate Googling Lol Let s skip the preliminaries Kevin s book is the best I ve read n many levels1 If my mom and dad ever need to know what I spent my youth doing n trading floors across Frankfurt London and New York this is now the best book in print finally eclipsing Michael Lewis riginal classic Liar s Poker No buckets f guacamole here just the facts expertly and humorously but never condescendingly laid Greetings! out2 If you want a sober primern the history f all major financial screw ups from 1990 nward except maybe for the Internet bubble again this is the best in print because it s perhaps the first time an active trader has discussed them all in Tribeca one book Why Aren t they Shouting brings the perspective that cannly come with having had to deal with all Grey's Lady of them personally the ERM crisisf 1992 the Emerging Markets LTCM crisis Blue Streak of 1997 98 and the financial crisisf 2008 093 If it s the sundry scandals you want to understand about that s covered too Kevin explains extremely well what happened with LIBOR and what happened with the FX fixings scandal and here we re talking 100% horse s mouth level f understanding as he was running the FX business for the 1 player Deutsche Bank when that scandal brokeAway from all that the book is MASSIVELY accessible You do not need to have studied finance to read it Small caveat I actually don t have terribly much time for Kevin s writing style He makes up for that with anecdotes from the trading floor that had me literally laughing by myself as I was reading the book Like for example when the cocky trader was asked to bid aggressively A total classicFinally there s an attempt here at a general theme The big idea is that computers have acted as a catalyst for many f these crises because they have lubricated ur slow march toward complexity which in turn has been found impossible to manage He even hazards a prediction that computers will succeed where many regulators have failed in enabling the disruption f the too complex to fail dinosaursMuch as I work in the algorithmic space I don t totally buy this big theme but Kevin NOT a drummer for a top 40 act which he d led us all to believe during his career but hey I can now follow his suggestion from page 4 and google it has packed this epigram to his career with so much solid judgement and wisdom there was actually no need for an ver arching theme The attempt at providing ne is a welcome bonus Really really love it and appreciate how Rodgers describe ho every crisis in his tenure built If you wanna know how technology affecting money market Stanford Wong Flunks Big-Time or financial currency market you have to read it This book is an eualf The Big Short Michael Lewis in FX market The rise Thoroughly Disarmed of the machinesI chose this bookn Netgalley because I work in the industry and know that the norm n a trading floor is well no trading floor as most people would imagine it It s like Silicone Valley than Wall StreetAuthor and FX Trader Kevin Rodgers delivers a witty bservant memoir regaling a very long career in FX trading in London The book begins in the heady days After the Ashes of ego bravado phone calls and shoutingn a bustling trading floor and takes us to the future To the gentle tap tap tap The Angry Planet of a keyboard under a setf large blinking screens It s an interesting read detailing. Often wryly amusing chronicle Melody's Key of this silent revolution that takes us from the daysf phone calls hand signals and alpha males to a world f microwave communications complex derivatives and computer geeks In addition it’s a masterclass in how modern banking works for those who don’t know their spot FX fro.
Kevin Rodgers has written a masterpiece Not nly does the book cover crucial revolutionary events that transformed the banking industry with respect to technology it also touches upon important concepts in risk management and derivatives This book is worth a read for anyone who wants to understand the impact A Chance Acquaintance of technologyn the banking industry Another book about the financial crisis This ne takes a slightly longer view than just the crash f 200708 and was written by a banker ie someone n the inside The surprisingly engaging writing makes it accessible to the likes f me who have a very tenuous and naive grasp The Wallflower's Revenge on the worldf financeKevin Rodgers started writing this book after retiring in 2014 and much f the book is a personal memoir f his time in banking His career started in foreign exchange FX at the beginning War to the Knife: Bleeding Kansas, 1854-1861 of the 1990s and coincidentally ran in tandem with the risef computers in the industry At the start Leaving Mother Lake: A Girlhood at the Edge of the World of his career computers mostly assisted with the backffice side f transactions but nowadays computers have taken ver the actual buying and selling in an automated way Much f this development is described and it makes for interesting reading Whereas at the beginning humans made the decisions these days algorithms do it All the banks are pitched in an arms race against each ther for ever faster trading systemsThis development also means that the types Introductory Algebra: Models Concepts Skills of people who work in banking has changed In an interview with the author I found elsewheren the web he mentions the I am so clever that I don t need to understand what I am doing attitude Here is an anecdote that reveals somewhat regarding the relationship between he bankers and the IT staff A senior colleague Marriage After God: Chasing Boldly After God’s Purpose for Your Life Together of mine bankernce asked him IT manager whether his team could complete a piece f analysis by an insanely tight deadline No came the reply Shocked silence IT people were normally a walkover Well I suppose we could come up with something by then he said at last at which my colleague s face brightened up for a moment but it would be shit Happily his bluntness was matched by his competence and a refreshing disinclination to use jargon And another ne about the new generation Blue Blood of whizz kids who entered the financial world We started to hire specialists to crunch data like the HFTs did and come up with better faster dealing algorithms These people manyf them Russian were not like any FX professional any The Gollywhopper Games: Friend or Foe of us had ever seen Onen his birthday sent Parafilias (Spanish Edition) out an email to everyone in the London FX team telling us we could have a slicef his cake if we could tell him the first derivative It's Like This of X to the powerf X I sighed to myself uizzes The Mirage on calculus weren t really a great way to fit in withthers n the trading floor But the feisty ld spirit Rituels secrets des Templiers of FX wasn t uite dead yet Within minutes Paul a New Zealander andne f the remaining voice spot traders in London arrived at the birthday boy s desk with the correct answer I never knew you were a mathematician said the e trader I m not replied Paul bluntly in his Kiwi drawl I just looked it up n the Internet Now give me my cake He returned to his seat with some chocolate gateau to the sounds A Mild Suicide of laughter and applause Thether area Beethoven for a Later Age: The Journey of a String Quartet of risk that was growing unstoppable was the mergers and takeovers that lead to all the money in the world being managed by a smaller and smaller numberf firms Banks pursued the supermarket model where they wanted to provide a Born to Ride: A Story About Bicycle Face one stop shopf financial services And how this ended we all know Everything started to collapse when Origen: Scholarship in the Service of the Church one partf a risky business went bad This bit I found interesting as my personal experience was the pposite I found that increasingly ne had to shop around for the best deal ranging from getting a credit card to arranging a mortgageIt is understandable that everything has become so complex in the financial industry that humans are no longer able to understand the risks being taken The computers now also take care f risk management A weakness here is using the past to predict the future It might notAnd finally the author also focuses n the role Porter Earns a Quarter (Four Basic Skills Series, Volume 2) of the regulators Who amongst us lesser mortals took any noticef the 1999 Gramm Leach Bliley Act that ended the separation Mayan, Incan, and Aztec Civilizations, Grades 5-8 of investment and commercial banking brought in by the Glass Seagall Actf 1933 The latter was a result Tablettes Albertini Actes privés de l'époque vandale of the 1929 stock marke. When Kevin Rodgers embarkedn his career in finance dealing rooms were filled with clamouring traders and gesticulating salesmen Nearly three decades later the feverish bustle has gone and the loudest noise you’re likely to hear is the gentle tapping f keyboards Why Aren’t They Shouting is a very personal.
The development f technology within banking along with snippets funny moments interviews anecdotes and Kevin s Sexual Soulmates: The Six Essentials for Connected Sex (English Edition) own predictions for the future as technology becomes KingAs technology moves faster than we can keep up with Why Aren t They Shouting gives an underlying sensef risky Skynet type shinanigans but were the ld days really any better Why Aren t They Shouting is an acerbic account f a trader who was there before during and living after the change in the way bankers and traders work There are lots Piazza, Student Edition: Introductory Italian of interviews and anecdotes fromther people in the industry but this is definitely Kevin s tale to tellThe perfect commuter read for any Dad in the finance business for Fathers Day An engaging and insightful account Unbroken Circle: How to Take Your Family Through the End Time of how advances in computing power in particular contributed to various financial crises Rodgers alsoffers a nuanced view f the libor and and wmr fixing scandals which condemns uneuivocally their common feature f collusion between banks but is the best explanation I have yet read f how the two scandals differ and why the issues are not as black and white as they are usually presented due to the illiuid nature f the interbank lending market for libor and the fact that executing a wmr fix necessarily involves trading in the market around the time f the fix We need experienced heads like Rodgers s in banking r else we are condemned to repeat the mistakes Tajweed Rules for Qur'anic Recitation: A Beginner's Guide (Tajweed Rules, of the past but given the capital constraints and heightened regulationf banks now it seems likely that the next crisis is brewing elsewhere Crypto anyone Paints a picture Selling to VITO the Very Important Top Officer: Get to the Top. Get to the Point. Get to the Sale. of the transitionf trade floors from past to present and the key events along the way Full The Reformation (World History Series) of lotsf great anecdotesMy nly criticism would be if have preferred a bit technical detail I work in the field but actually the fact there isn t makes it so much accessible for new joiners r those curious as to what trade floors are like and how they evolved The financial world has changed both for good and bad yet some Ask Me Nicely: Dark Urges Book One of the character and colour has been ripped away with the breakneck rush to add technology into the mix This book gives a personal accountf this revolution from somebody who had a senior role within explaining a bit about the financial world and some Date With A Dead Doctor of its innermost secrets at the same timeThe author s focus isn the foreign exchange FX side Signs in the Heavens: A Jewish Messianic Perspective of the Last Days Coming Millennium of the business because that was his speciality yet the automation issues eually apply inther sectors just as the general changes to the method and way Daddy Lost Me At Poker (Eroticulture) (English Edition) of financial trading are eual throughout This is a book that can be different things to different readers yet it is far from being a technical nerdyr insularly boring read A curious generalist as well as a cynical market participant may both enjoy thisThere is a serious side to the book as well with the author wondering whether the explosive transformation that has Orb: A Tale of Alien Pregnancy occurred to the financial markets through technology could actually be endangering it especially if unchecked The author believes that the massive changes to the financial markets in the 1990s and 2000s may have strongly contributed to the 2008 crash since technology made the creationf ever complex financial instruments easy and high speed trading networks encouraged greater speculation It is not a rant filled book but it may plant a seed Witchopoly or twof thought in the minds Dear Chandler, Dear Scarlett: A Grandfather's Thoughts on Faith, Family, and the Things That Matter Most of many For the rest it is just an eyepening humorous and engaging readThe author has done a great job in distilling a lot f ften technical insider information into a form that the generalist can understand Occasionally it slips and a nce pen and flowing text becomes a little impenetrable and insular yet this does not verall spoil the book For those who like to read there is an extensive range f notes and sources at the end Beyond Time Travel - Exploring Our Parallel Worlds: Amazing Real Life Stories in the News (Time Travel Books Book 1) of the bookFor a really low price you get an impressive personally curatedverview Boarding House of Hunks of the changes in financial markets in the past couplef decades a bit f market knowledge and some thoughts about how things are developing andor failing It makes for a fascinating important read about a subject you might not necessarily have thought you wanted to know aboutAutammecom A good readWell researched and argued if a little dry Given the insane times I was hoping for something a little revealing There was certainly plenty f material at DB to make a good movie. M their VaR Bec (The Demonata, or who struggle to recall precisely how Monte Carlo pricingperates But it’s also an account The Further Mishaps of Charlie Chumpkins of thirty yearsf seismic change that raises a deeply worrying uestion Could it be that the technology that has transformed banking – and that continues to do so – is actually making it ever unstable.
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Kevin Rodgers was born in Huntsville Alabama on January 17 1972 He graduated from Winter Park High School in Winter Park FL in 1990 He obtained an Associate in Arts degree from Valencia Community College in Orlando FL in 1992 He graduated from Valencia's Criminal Justice Institute in Orlando in 2002Over the last two years several short stories such as Stargazers Paranoia and Claus