FIASCOistheshockingstoryofoneman’seducationinthejunglesofWallStreet.AsayoungderivativessalesmanatMorganStanley,FrankPartnoylearnedtobuyandsellbillionsofdollarsworthofsecuritiesthatweresocomplexmanytradersthemselvesdidn’tunderstandthem.Inhisbehind-the-sceneslookatthetradingfloorandtheofficesofoneoftheworld’stopinvestmentfirms,Partnoyrecountsthemachoattitudesandfiercelycompetitiveploysofhisofficemates.Andhetakesustotheannualdrunkenskeet-shootingcompetition,FIASCO,whereheandhiscolleaguessharpenthekillerinstinctstheyareencouragedtouseagainsttheircompetitiors,theirclients,andeachother.FIASCOisthefirstbooktotakeonthederivatvestradingindustry,themosthighlychargedandriskysectorofthestockmarket.Moreimportantly,itisablisteringindictmentofthelargelyunregulatedmarketinderivativesandservesasawarningtounwaryinvestorsaboutrealfiascos,whichhavecostbillionsofdollars.
