... derivatives. Traders, Guns & Money is the record of my time in the derivatives indus-try. It is a collection of tales about the products, the people and the strangegoings-on in the business. ... DAS “Makeroomforanothermust-readon the shelves of anyCityorWallStreettrader,salesman,orvictim. Traders, Guns &Moneyisfilledwithdirtylittlesecrets,someold and somenew.Anyonewhohasworkedonatradingfloorwillnod and laugh.Thosewhohavenotwillshaketheirheads and cry.When derivatives and ‘f******’appeartogetheroneveryotherpage,youknowsomeonehaswritten the truthaboutfinancialinnovation.Beafraid.”FrankPartnoy,author of FIASCO and InfectiousGreed and Professor of Lawat the University of SanDiego“Very,veryreal.Riskmanagementat the frontline, and unlikeanythingyou’llhaveseen in the textbooks.”PaulWilmott,writer,mathematician and author of the quantitativefinancewebsitewww.wilmott.comWarrenBuffetoncememorablydescribed derivatives as“financialweapons of massdestruction”.Readthissensational and controversialaccount of the often dazzling business of derivatives trading, and seeifyouagree.Nomoneyiseverreallymade in financialmarkets.Marketsmerelytransferwealth.Astohowtomakemoney?Well,itisbasicallytheft,misrepresentation,lies,cheating,deceptionorforce.Itisimpossibletomake the staggeringamountsmade in derivatives in goodyearshonestly. Traders, Guns &Moneyisawry and wickedlycomicexposé of the culture,games, and puredeceptionsplayedouteveryday in tradingroomsaround the world, usuallywithotherpeople’smoney.Whetheryoumove in the financial world yourself,knowpeoplewhodo,orhavemoneyinvested in stocks,sharesor derivatives, thisisafascinatingreadguaranteedtomakeyouthink.“Ihadbeen in derivatives forover25years.Manytradershadn’tbeenbornwhenIstumbledaccidentallyinto the arcane world of derivatives trading.HowdidIgetthere?Ihadfollowed the money.Ihadridden the tide and currents of financialmarkets.Ihadnotknownverymuchthen.EvennowIonlyknew the many unknowns. HowdidIgethere?Itwasaverylongstory. Traders, Guns &Moneyisthatstory…”Satyajit Das isaninternationalexpert in the dazzling world of financial derivatives and has25years’experience in the financialmarkets.Hehashadafootonbothsides of the derivatives equation,havingworkedforbanks (the “sellside”)suchas the CommonwealthBank of Australia,CiticorpInvestmentBank and MerrillLynch and, asTreasurer of the TNTGroup,forclients (the “buyside”).Henowactsasaconsultantadvisingbanks and corporations and presentingseminarsthroughout the world on the slipperysubject of derivatives. Das is the author of anumber of highlyregardedstandardreferencebookson derivatives includingSwaps/Financial Derivatives (2004,Wiley),StructuredProducts&HybridSecurities(2001,Wiley) and Credit Derivatives, CDOs and StructuredCreditProducts(2005,Wiley).Outside the wild world of derivatives, Das ispassionateaboutrealwildlife and isco-author(withJadeNovakovic) of In Search of the Pangolin: The AccidentalEco-Tourist(2006,NewHolland),auniquetravelnarrativefocusedoneco-tourism.TELLSACRACKINGSTORY, AND IN DOINGSOREVEALSBOTH THE HARDFACTS AND THE SOFTUNDERBELLY OF THE WORLD OF DERIVATIVES IN MOSTBUSINESSES, THE NATURE OF THE PRODUCTISAKNOWNKNOWN.WEDONOTSPENDALOT OF TIMEDEBATING THE USE OF OROURNEEDFORAPAIR OF SHOES.WEALSOUNDERSTANDOURCHOICES–LACEUPORSLIP-ON,BLACKORBROWN.ISPEAK, OF COURSE, OF MEN’SSHOESHERE.WOMEN’SSHOES,WELL,THEYARECLOSERTO DERIVATIVES. THE DERIVATIVES SALESPROCESSISMORECOMPLEX.YOUMAYNOTKNOWTHATYOUNEED THE PRODUCT–ANUNKNOWNKNOWN.YOUPROBABLYHAVEN’TGOT THE FAINTESTIDEA OF WHATADOUBLEKNOCKOUTCURRENCYOPTIONWITHREBATEISORDOES–AKNOWNUNKNOWN.WHATSHOULDYOUPAYFORTHISPARTICULARITEM?DEFINITELY,UNKNOWNUNKNOWN. DERIVATIVES ARESIMILARTOAMANOLOBLAHNIKORJIMMYCHOOPAIR OF WOMEN’SSHOES.”traders13.indd1 ... makes sense of it all. The more you know, the smarter and faster you can go. That’s why we work with the best minds in business and finance to bring cutting-edge thinking and bestlearning practice...