INSEAD Library

Includes index

Digitized

Poker Face of Wall Street Contents Foreword Preface xi xv 1 1 4 6 9 12 16 19 22 25 25 30 32 33 35 36 38 42 43 46 50 55 55 56 57 58 60 63 65 66 69 71 CHAPTER 1 The Art of Uncalculated Risk Risk Risk Rules Finance and Gambling An Example of the Trading Game Gambling and Finance Opponents Hold 'Em Aces Truth CHAPTER 2 Poker Basics Poker Hands Betting Limits Mechanics You Gotta Know When To . . . And He Answers: "Omaha" Stud Draw Basic Strategies Calling Taxes CHAPTER 3 Finance Basics Econospeak Commercial Banks Investment Banks Exchanges Theory Financial Challenges Flashback: Wall Street Poker Night The Players Economics The Game CHAPTER 4 A Brief History of Risk Denial I'm Shocked--Shocked--to Find That Gambling Is Going on in Here! Hedging Bets A Random Walk Down Wall Street Foreign Interest Futures and Options The Crash of '87 Flashback: Gardena and the Single Heterosexual Male No Stud-Horse Allowed The Subculture Never Ask of Money Spent, Where the Spender Thinks It Went A Miniature Global Economy Laid Out on a Baize Oval Table Nor Tie to Earths to Come, nor Action New You Took Little Children Away from the Sun and the Dew . . . for a Little Handful of Pay on a Few Saturday Nights CHAPTER 5 Pokernomics Law and Money Dutch Treat The Trouble in Scotland . . . and New Orleans Savage Money Networks Adventurers and Planters Pokerbank Flashback: My First Hand of Commercial Poker Cheating The Betting The Draw CHAPTER 6 Son of a Soft Money Bank The Stormy, Husky, Brawling Laughter of Youth Triage A Tall, Bold Slugger Set Vivid against the Little, Soft Cities Flashback: The Education of a Poker Player Frank's Grandma More Games and the People Who Play Them Harvard Pangs of Conscience Meeting Mr. Dixie The Book 75 76 82 85 89 91 96 103 103 104 108 111 113 115 119 120 124 128 130 133 137 140 145 147 149 152 157 158 165 169 173 174 176 177 178 181 184 CHAPTER 7 The Once-Bold Mates of Morgan The Crash of '79 Bridge Bums, Chicago School, and the Pit Withered These Latter-Days to Leaf-Size from Lack of Action . . . History's Beaten the Hazard And He Burned Them as Wastepaper Flashback: The Education of a Trader Pit The Options Floor Playing the Hand Parity, Verticals, and Calendars Bonds Poker at Lepercq CHAPTER 8 The Games People Play When Luck Has Something to Do with It God Gave You Guts: Don't Let Him Down Guessing Games Masters of the Bluff Bluffing Mathematics Game Fact Small-Mindedness Flashback: Liar's Poker How to Succeed in Trading Liar's Rules Cooperative Liar's Destroy the Game CHAPTER 9 Who Got Game This Guy Says the Horse Needs Race Rocket Scientist Chairman of the Board Learn by Experiment What Argument Taught Those Who Have Knowledge Don't Predict-- Those Who Predict Don't Have Knowledge If I Have to Fall, May It Be from a High Place Ivory Tower Risk Do Not Limp before the Lame Fierce as Bluff King Hal Next Time Stop at the Ethyl Pump My Way Is Multiway Do Traders Care? Learning about Learning Hammurabi's Rules of Poker 187 188 189 192 195 197 201 201 203 206 209 213 216 221 222 228 230 233 234 241 246 258 258 260 262 263 269 269 272 276 279 281 285 289 291 293 296 298 300 302 305 CHAPTER 10 Utility Belt I Ponder the Psychology That Roots Them in Their Place Safer Than Suicide Five Out of Ten to Pass Aplomb in the Midst of Irrational Things Let's Make a Deal More Patient Than Crags, Tides, and Stars; Innumerable, Patient as the Darkness of Night Annotated Bibliography History and Meaning of Poker History and Meaning of Gambling Finance and Gambling Specific Sources Index 333 325 325 328 329 330 309 309 311 313 315 317 320