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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

Hardcover

Published: 4th June 2013
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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.and#160; A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards andndash; and dizzying temptations andndash; of making a living on the Street.and#160;Growing up in the 1980andrsquo;s Turney Duff was your average kid from Kennebunk, Maine, eager to expand his horizons. After trying andndash; and failing andndash; 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.and#160; Those on the andldquo;buy side,andrdquo; the traders who make large bets on whether a stock will rise or fall, are the andldquo;alphasandrdquo; and those on the andldquo;sell side,andrdquo; the brokers who handle their business, are eager to please.and#160;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.and#160; 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.and#160; Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits.and#160; Naandiuml;ve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on hisand#160;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. and#160;At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights andndash; and, as it turned out, plummeted to even lower depths andndash; as, by day, he solidified his reputation one of the Streetandrsquo;s most powerful healthcare traders, and by night, he blazed a path through the cityandrsquo;s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside.and#160;A mesmerizingly immersive journey through Wall Streetandrsquo;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.

""Bracing...calls to mind books like "Bright Lights, Big City "by Jay McInerney, and especially "Liar's Poker "by Michael Lewis...As spectacle [the book] easily trumps both...Mr. Duff proves a fine wordsmith: his prose is smooth, lean and rhythmic...An entertaining and cautionary tale, well worth your time."-Bryan Burrough, "The New York Times " "A heavyweight confessional about the perils of a life spent chasing the almighty dollar...even though the author's brutal honesty about his increasingly chaotic personal life is commendable, it's really more his vivid portrait of the everyday inner workings of life at a hedge fund that fascinates...A fast-paced memoir of the easy-money hypercapitalist dream-turned- nightmare."--Kirkus Reviews "Looking for a Hollywood-worthy account of Wall Street with lots of juicy details about the high life? Duff, a former financial trader who climbed the ranks at several major firms, provides a fascinating glimpse into the trader's life as he narrates his journey from smalltown boyhood in Kennebunk, Maine, to hitting the jackpot in Manhattan, to succumbing to the poisons of success...[This] fast-paced tale will absorb readers...a wild ride."--Publishers Weekly "This" is why I keep my money safe and sound under the mattress. You could get high just reading this book. Mamas, don't let your babies grow up to be Wall Street traders." --James Patterson, #1 "New York Times" bestselling author of "Along Came a Spider "and "Kiss the Girls" "Turney Duff is a natural storyteller, and his tale of how a naive kid from Maine traded in L.L. Bean for Armani and got sucked into the seamy side of Wall Street is almost impossible to put down. The book is by turns hilarious, harrowing, maddening, and illuminating. After this debut, the smart money will be on Duff."--Bethany McLean, New York Times bestselling author of "The Smartest Guys in the Room "and "All the Devils Are Here" "Turney Duff's "Th

ISBN: 9780770437152
ISBN-10: 077043715X
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 320
Published: 4th June 2013
Dimensions (cm): 24.1 x 16.5  x 2.9
Weight (kg): 0.53