Review: The Trading Game
The Trading Game: A Confession by Gary Stevenson
My rating: 3 of 5 stars
Blurb:
“If you were gonna rob a bank, and you saw the vault door there, left open, what would you do? Would you wait around?”
Ever since he was a kid, kicking broken soccer balls on the streets of East London in the shadow of Canary Wharf, Gary Stevenson dreamed of something bigger. And he was good at numbers.
At the London School of Economics, Gary, wearing tracksuits and sneakers, shocked his posh classmates by winning a competition called “The Trading Game.” The a golden ticket to a new life, as the youngest trader at Citibank. A place where you could make more money than you’d ever imagined. Where your colleagues are dysfunctional geniuses and insecure bullies, yet they start to feel like family. Where against the odds you become the bank’s most profitable trader, closing deals worth nearly a trillion dollars. A day . Soon you are dreaming of numbers in your sleep—and then you stop sleeping at all.
What happens when winning starts to feel like losing? It’s 2008 and now you have a front-row seat to the global financial crisis. A time when the easiest way to make money is to bet on millions becoming poorer—like the very people you grew up with. The economy is slipping off a precipice, and your own sanity starts slipping with it. You want to stop, but you can’t. Because nobody ever leaves .
Would you stick, or quit? Even if it meant risking everything?
This is an outrageous, unvarnished, white-knuckle journey to the dark heart of an intoxicating world—from someone who survived the game and then blew it all wide open.
Review:
[I received a copy of this book through NetGalley, in exchange for an honest review.]
Quite an interesting memoir in many ways, from an ex-trader whom a lot of people must have seen as an unlikely candidate for such a job (or, at least, I bet a lot of people would expect traders to come from a more specific pool with families closely related to financial matters, for instance).
Gary Stevenson worked at Citi for a few years after university, and managed to find his place there… or did he? For not everything was so peachy, even though he made money and things looked, for all intents and purposes, as if they were going the right way… for him, not necessarily for the rest of the world caught in the 2008 crisis. And reading about that was definitely interesting, because it is no secret that as a lot of people suffered from that very crisis, there were also those who managed to get an upper hand, so to speak, and leave the table rather wealthier. Which is partly the moral dilemma that Gary went through here, finding it more and more difficult to reconcile his success with the realisation that the markets were going crazy, and soon going down in flames.
I had a bit of a harder time, though, with the portrayal of the trading world—entertaining in a way (everybody in there seemed to be a prick of some sort or other), but it’s the kind of portrayal that grows a little… stale after a while? Note: I have no idea how people behave on the trading floor, it may or it may not be that this environment is pretty toxic in general and in nature, and I wouldn’t be surprised if indeed it was. It just grew old after a while. Also I was somewhat annoyed at the last part of the book, because in the end it read more like constant anger cum trying to get as much money as possible from Citi before leaving, but without the deeper introspection I would’ve expected from this?
Conclusion: 3 stars, it is an interesting read, the author just doesn’t come off as very reliable or relatable. (Not sure if he was supposed to be, to be fair.)