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The Buy Side: A Wall Street Trader's Tale of Spectacular Excess - Turney Duff
The Buy Side: A Wall Street Trader's Tale of Spectacular Excess
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2.60 25
The Buy Side, by former Galleon Group trader Turney Duff, portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements.  A remarkable writing debut, filled with indelible moments, The Buy Side shows... show more
The Buy Side, by former Galleon Group trader Turney Duff, portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements.  A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards – and dizzying temptations – of making a living on the Street. Growing up in the 1980’s Turney Duff was your average kid from Kennebunk, Maine, eager to expand his horizons. After trying – and failing – to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits.  Those on the “buy side,” the traders who make large bets on whether a stock will rise or fall, are the “alphas” and those on the “sell side,” the brokers who handle their business, are eager to please. How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam.  Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible.  Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits.  Naïve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in sometimes mysterious ways.  At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights – and, as it turned out, plummeted to even lower depths – as, by day, he solidified his reputation one of the Street’s most powerful healthcare traders, and by night, he blazed a path through the city’s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside. A mesmerizingly immersive journey through Wall Street’s first millennial decade, and a poignant self portrait by a young man who surely would have destroyed himself were it not for his decision to walk away from a seven-figure annual income, The Buy Side is one of the best coming-of-age-on-the-Street books ever written.
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Format: hardcover
ISBN: 9780770437152 (077043715X)
Publisher: Crown Business
Pages no: 320
Edition language: English
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Community Reviews
Ryan DeJonghe - The Avid Reader
Ryan DeJonghe - The Avid Reader rated it
5.0
“DO NOT READ THIS BOOK IF YOU HATE: sex, alcohol, happy hour, models, ecstasy, cocaine, pornography, mature hookers, wall street mafia, drug addicts, alcoholics, NYC nightlife, insider trading, hazing, seven figure bonus checks, fake muggings, $25k birthday parties, one night stands, ABC Carpet, sec...
Obsidian Blue
Obsidian Blue rated it
3.0 The Buy Side: A Wall Street Trader's Tale of Spectacular Excess
I think that novels or memoirs about Wall Street are becoming the new "it" thing. However, Turney Duff's "The Buy Side" though at first enlightening about Wall Street pretty soon just turned into a seedy look at a drug addict. As other reviewers have noted Mr. Duff writes very well. This was not a h...
mtw1tter
mtw1tter rated it
1.0 The Buy Side: A Wall Street Trader's Tale of Spectacular Excess
Why do ex-traders need to write memoirs as some form of therapy and expect us to somehow understand them and sympathise with them AND buy into their lifestyle and excesses since they never seem to learn from their mistakes?
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