An engaging and insightful account of how advances in computing power in particular contributed to various financial crises Rodgers also offers a nuanced view of the libor and and wmr in particular contributed to various financial crises Rodgers also offers a nuanced view of the libor and and wmr scandals which condemns uneuivocally their common feature of collusion between banks but is the best explanation I have et read of how the two scandals differ and why the issues are not as black and white as they are usually presented due to the illiuid nature of the interbank lending market for libor and the fact that executing a wmr fix necessarily
Involves Trading In The trading in the around the time of the fix We need experienced heads like Rodgers s in banking
Or Else We Are Condemned else we are condemned repeat the mistakes of the past but given the capital constraints and heightened regulation of banks now it seems likely that the next crisis is brewing elsewhere Crypto anyone A good readWell researched and argued if a little dry Given the insane times I was hoping for something a little revealing There was certainly plenty of material at DB to make a good movie This book explains the changing nature of banking jobs concepts and biggest scandals in the history of finance all with amazing ease It even tells Bealtaine; Tales of the Fae you about the life of an MD the part about reading all the suspicious emailsour subordinates send to each other flagged to Widows (Dolly Rawlins, you by Compliance I wish I had read this book at the start of my career in finance Could have saved me hours of scouring Investopedia and desperate Googling Lol The rise of the machinesI chose this book on Netgalley because I work in the industry and know that the norm on a trading floor is well no trading floor as most people would imagine it It s like Silicone Valley than Wall StreetAuthor and FX Trader Kevin Rodgers delivers a witty observant memoir regaling a very long career in FX trading in London The book begins in the heady days of ego bravado phone calls and shouting on a bustling trading floor and takes us to the future To the gentle tap tap tap of a keyboard under a set of large blinking screens It s an interesting read detailing the development of technology within banking along with snippets funny moments interviews anecdotes and Kevin s own predictions for the future as technology becomes KingAs technology moves faster than we can keep up with Why Aren t They Shouting gives an underlying sense of risky Skynet type shinanigans but were the old days really any better Why Aren t They Shouting is an acerbic account of a trader who was there before during and living after the change in the way bankers and traders work There are lots of interviews and anecdotes from other people in the industry but this is definitely Kevin s tale to tellThe perfect commuter read for any Dad in the finance business for Fathers Day The financial world has changed both for good and badet some of the character and colour has been ripped away with the breakneck rush to add technology into the mix This book gives a personal account of this revolution from somebody who ha. When Kevin Rodgers embarked on his career in finance dealing rooms were filled with clamouring traders and gesticulating salesmen Nearly three decades later the feverish bustle has gone and the loudest noise ou’re likely to hear is the gentle tapping of keyboards Why Aren’t They Shouting is a very personal.
REVIEW Í PDF, eBook or Kindle ePUB ´ Kevin Rodgers.
D a senior role within explaining A BIT ABOUT THE FINANCIAL WORLD bit about the financial world some of
its innermost secrets at the same timeThe author s focus is on the foreign exchangeinnermost secrets at the same timeThe author s focus is on the foreign exchange side of the business because that was his speciality et the automation issues eually apply in other sectors just
as the general changes to the method and way of financial trading are eual throughout This is a bookthe general changes to the method and way of financial trading are eual throughout This is a book can be different things to different readers Ancient (Thaumatology, yet it is far from being a technical nerdy or insularly boring read A curious generalist as well as a cynical market participant may both enjoy thisThere is a serious side to the book as well with the author wondering whether the explosive transformation that has occurred to the financial markets through technology could actually be endangering it especially if unchecked The author believes that the massive changes to the financial markets in the 1990s and 2000s may have strongly contributed to the 2008 crash since technology made the creation of ever complex financial instruments easy and high speed trading networks encouraged greater speculation It is not a rant filled book but it may plant a seed or two of thought in the minds of many For the rest it is just an eye opening humorous and engaging readThe author has done a great job in distilling a lot of often technical insider information into a form that the generalist can understand Occasionally it slips and a once open and flowing text becomes a little impenetrable and insularet this does not overall spoil the book For those who like to read there is an extensive range of notes and sources at the end of the bookFor a really low price ou get an impressive personally curated overview of the changes in financial markets in the past couple of decades a bit of market knowledge and some thoughts about how things are developing andor failing It makes for a fascinating important read about a subject ou might not necessarily have thought A Caregiver's Guide to Lewy Body Dementia you wanted to know aboutAutammecom Another book about the financial crisis This one takes a slightly longer view than just the crash of 200708 and was written by a banker ie someone on the inside The surprisingly engaging writing makes it accessible to the likes of me who have a very tenuous and naive grasp on the world of financeKevin Rodgers started writing this book after retiring in 2014 and much of the book is a personal memoir of his time in banking His career started in foreign exchange FX at the beginning of the 1990s and coincidentally ran in tandem with the rise of computers in the industry At the start of his career computers mostly assisted with the back office side Really really love it and appreciate how Rodgers describe ho every crisis in his tenure built Ifou wanna know how technology affecting money market or financial currency market ou have to read it This book is an eual of The Big Short Michael Lewis in FX market Paints a picture of the transition of trade floors from past to present and the key events along the way Full of lo. Often wryly amusing chronicle of this silent revolution that takes us from the days of phone calls hand signals and alpha males to a world of microwave communications complex derivatives and computer geeks In addition it’s a masterclass in how modern banking works for those who don’t know their spot FX fro. Ts of great anecdotesMy only criticism would be if have preferred a bit technical detail I work in the field but actually the fact there isn t makes it so much accessible for new joiners or those curious as to what trade floors are like and how they evolved Kevin Rodgers has written a masterpiece Not only does the book cover crucial revolutionary events that transformed the banking industry with respect to technology it also touches upon
important concepts in risk management and derivatives This book is worth a read for anyone who wants to understand the impactconcepts in risk management and derivatives This book is worth a read for anyone who wants to understand the impact technology on the banking industry Let s skip the preliminaries Kevin s book is the best I ve read on many levels1 If my mom and dad ever need to know what I spent my outh doing on trading floors across Frankfurt London and New York this is now the best book in print finally eclipsing Michael Lewis original classic Liar s Poker No buckets of guacamole here just the facts expertly and humorously but never condescendingly laid out2 If ou want a sober primer on
The History Of All Majorhistory of all major screw ups from 1990 onward except maybe for the Internet bubble again this is the best in print because it s perhaps the first time an active trader has discussed them all in one book Why Aren t they Shouting brings the perspective that can only come with having had to deal with all of them personally the ERM crisis of 1992 the Emerging Markets LTCM crisis of 1997 98 and the financial crisis of 2008 093 If it s the sundry scandals ou want to understand about that s covered too Kevin explains extremely well what happened with LIBOR and what happened with the FX fixings scandal and here we re talking 100% horse s mouth level of understanding as he was running the FX business for the 1 player Deutsche Bank when that scandal brokeAway from all that the book is MASSIVELY accessible You do not need to have studied finance to read it Small caveat I actually don t have terribly much time for Kevin s writing style He makes up for that with anecdotes from the trading floor that had me literally laughing by myself as I was reading the book Like for example when the cocky trader was asked to bid aggressively A total classicFinally there s an attempt here at a general theme The big idea is that computers have acted as a catalyst for many of these crises because they have lubricated our slow march toward complexity which in turn has been found impossible to manage He even hazards a prediction that computers will succeed where many regulators have failed in enabling the disruption of the too complex to fail dinosaursMuch as I work in the algorithmic space I don t totally buy this big theme but Kevin NOT a drummer for a top 40 act which he *D Led Us All * led us all believe during his career but hey I can now follow his suggestion from page 4 and google it has packed this epigram to his career with so much solid judgement and wisdom there was actually no need for an over arching theme The attempt at providing one is a welcome bonus. M their VaR or who struggle to recall precisely how Monte Carlo pricing operates But it’s also an account of thirty ears of seismic change that raises a deeply worrying uestion Could it be that the technology that has transformed banking – and that continues to do so – is actually making it ever unstable. .