Thursday, November 8, 2007

Michael Lewis in 1989 Explains the Culture at Salomon

“The trading floor is a jungle and the guy you end up working
for is the jungle leader; whether you succeed here or not depends on knowing how to survive in the
jungle,” said one of the leading bond salesman. Some of the other lessons Lewis learned during the training were:

• The market always has a fool. If you can’t see one, it’s probably you.
• You work for Salomon, not the customer, so blowing up the customer is understandable.
• You don’t get ahead by being nice, you get ahead by making money

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