Member Reviews
An insight and exposé of Gary Stevenson's life as a trader, not just any trader but a legend in his own lifetime. I must declare an interest because my son chose the City rather than academia, all his mates did too and I think it was down to onerous student loans. So now, armed with The Trading Game I can see the attraction for youngsters wanting to be millionaires before they are thirty. However, we can see the rottenness too. It becomes a game and go hang the consequences. Gary seems to be a prophet as far as the economic situation in most countries is concerned and he explains it in simple terms. I was fascinated by how hard it was made to leave trading behind him. A literary masterpiece it certainly isn't but it was never meant to be. He's just telling his own story the way he wants to. Because of personal interest, I judge it one star higher than otherwise would be the case.
Having lived in London all through the’80s and ‘90s, this memoir intrigued me. Gary Stevenson was an Essex boy who made it big in the world of banking. An original yuppy. The book gives us an insight into the rise and rise of the stock market, how it works, how the people operate within the bubble of ‘the City’. I thought I might learn about the ins and outs of shares etc, but I am as confused as ever. Not because the book is badly written but I just don’t ‘get’ trading. Gary is the best of the best ultimately but doesn’t seem to care about the money he makes. Big bonuses show how hard he works but to him it shows he is better than everyone else. There is a sad side to him - his relationships suffer, his health ultimately and his joie de vivre.
This is a true ‘rags to riches’ story but also explains along the way, how finance, big corporations, governments, individuals work in the twilight world of finance. I enjoyed the book and would love to know what Gary is doing now. Has he used his wealth to enrich his life or has he taken on another career.
Thank you to NetGalley and the publishers for a prepublication ebook in return for an honest review.
*4.5 stars*
Gary Stevenson is from a working class background, he was expelled from grammar school in Ilford for selling drugs, but a few years down the line, his quick brain and a head for numbers, secured him a position on the trading floor of a large bank in Canary Wharf, London, and he became one of the highest earning traders in the world. This then is Gary’s true story of his climb to success, and ultimately the price he paid for it.
Gary helps demystify the very basics of trading - FX swaps, equities, fixed income, futures, options, commodities, foreign exchange, buying and selling securities, though there are still things that went way above my head!
If the very thought of trading sounds dull to you, let me dispel that notion right away, because the author’s real life story is absolutely riveting, and takes us on an emotional journey, right to the heart of the trading floor and beyond, demonstrating that whilst the attraction of earning eye watering amounts of money may be tempting for many, it also reveals the true cost to one’s mental health, as family, friends, leisure time, sleep, and even personal hygiene go out of the window in the endeavor to reach the next financial goal. Highly recommended.
A very heartfelt and often blunt story of Gary Stevenson’s time working as a trader for Citibank.
It talks of the all-Consuming work required to be their top trading, the toll on his health /personal life and the realisation of how the global economy is broken.
It gives a pretty bleak message about inequality and how it won’t improve. Plenty of thought-provoking questions ensue.
This was a very interesting portrayal of the trading markets. Gary Stevenson a market trader with Citibank gave an honest account of the dealings which went on. Not comfortable readbut I would definitely rent.
This may be the first non-fiction book I’ve ever given five stars. It’s certainly the first non-fiction book that led me to follow the author on Instagram. Of course, this may not be surprising and people who enjoy other peoples books, probably do this all the time. But I am not a big reader of non-fiction, although I am a voracious reader. I certainly don’t know anything about economics, nor did I particularly care to learn about it. I’m not even sure why I requested this ARC when it came up in a Netgalley email - possibly because I had enjoyed that movie Margin Call? Basically I had low expectations, particularly about the style of writing because in my experience, only Bill Bryson writes consistently brilliantly about the thing he’s an expert in.
In any case, after reading, just a few pages of The Trading Game, I thought I must’ve made a mistake when I had seen the term ‘non fiction debut ‘ on the cover- it felt like the beginning a novel; an entertaining, feisty, well-written novel. It’s going to make a good movie too, if they can get past the constraints of the obvious NDA ;)
I still don’t really feel I know much about economics to be fair, which isn’t a reflection on the author; my brain just rejects the convoluted equations of trading in much the same way that Tories repel compassion. But I do feel like I learned a lot about the people and the institution of banking- please don’t make the mistake of thinking that sounds like a dry and dull thing to learn: this book will enrage, thrill, shock and depress you at times.
Having just finished it, I’m not sure whether I should go to Japan to try his ramen recommendations or move to a remote cabin the woods and give up on civilisation.
This true account of Stevenson’s experience as a Citibank trader had me hooked. He explained the basics of trading well enough for someone like me (clueless about trading) to understand. However, this was more than about trading. It tapped into the urge for wealth, the inequalities of the socio-economy and mental health in the work place. The writing is reflective of the fast paced industry while conveying all emotions and moral dilemmas effectively. As I was reading it felt as I was on the trading floor going through the same emotional journey as him. The author's insights have been points for true reflection for days after finishing this book especially as it resonates more in the current economic climate.
Stevenson’s memoir is definitely one to watch out for. I highly recommend this non-fiction piece.
Money corrupts and billions corrupt completely, at least until a Damascene conversion. An interesting look into financial trading, but it's no Liar's Poker in terms of capturing the feel of the game, whilst simultaneously making it explicable. Recommended
On a gripping and compelling memoir that reveals the highs and lows of high finance. It’s also a book that tells a story of greed and inequality, and urges the readers to think of our own morality. I thank the publisher for this and it is truly the one book that has made my January’s reading so far.
Gary Stevenson writes about his firsthand experience working at Citibank as a trader (he was once one of its most profitable traders and he was only in his 20s). He writes about his early years in East London and how winning a competition called “The Trading Game” ended up making him the youngest trader at the STIRT desk and within Citibank. He explains financial concepts that could be complex to manner in an accessible manner and he offers that rare glimpse into the day-to-day activities in the trading floor. All rather exciting (and often entertaining), yet rather unsettling to read about at the same time. There are some nuggets of wisdom here and there as well.
“Trading isn’t a free lunch. There’s no such thing as a trade that makes you a lot of money without you taking a significant amount of risk. That’s another good rule for life – if anyone ever tells you they’ve got one, cut that person out of your life.”
Now onto the bit that I found the most sad to read about. It’s when Stevenson writes about how despite all the wins, all the PnLs generated, he felt more and more lost. He struggled to sleep, got rather unwell, yet he struggled to quit. He managed to eventually, and the book also outlined how he finally found his peace.
It’s a remarkable read. One I’ll remember for a long time.
There's a well judged hysteria underpinning the entirety of “The Trading Game” by Gary Stevenson. A memoir of a former Citibank trader, Stevenson writes of his exploits in making his way from East London working class to becoming one of the bank's most profitable global markets traders at a time of financial turmoil between 2008-2012.
Apart from some uneven sections, the overall pacing of the book is excellent- having set the scene with conflict (leaving us wondering right from the very beginning as to exactly what sort of trouble the author has landed himself) Stevenson doesn't dwell overly long on his origins and gets right to it with a rather thrilling account of winning a competition run by the bank, with the prize being a much sought after internship as a trader.
If you are thinking that a story involving FX swap trading sounds dull, it is anything but. Stevenson has a knack for explaining some of the aspects of trading in accessible language. It also helps to liven things that he is surrounded by a bunch of absolute characters in the form of his fellow traders, ranging from the colourfully eccentric to the downright crazy. The sheer amount of money sloshing around is staggering and it's not long until Stevenson seemingly becomes addicted to the thrill and risk of trading. What he also apparently seems to identify relatively early on is an inability to enjoy the proceeds of his work, making the whole exercise about the goal of hitting endless numbers, without obvious benefit. From there, the downward spiral is inevitable- and as he becomes more and more disillusioned and depressed, he finds himself in a trap with no obvious way out.
I've read a couple of descriptions of the book as "true crime" and I have to say, I am not seeing that angle at all. Without giving anything away by way of spoilers, Stevenson is very careful not to do anything illegal in his trading and so it's rather misleading to characterise the story in that way. There is however a definite confessional aspect- and at times, an unsavoury feeling- in revealing so much about the shady ethical and moral dilemmas of a few individuals getting richer and richer at the expense of the masses. Stevenson is bluntly honest in showing us how he was complicit in that system. He's not always likable but he is a talented writer and there are some laugh out loud funny aspects in his tale. I would have liked a bit more insight into what came after and some of the work he has done on economic inequality since leaving the bank but I also get that this wasn't necessarily in keeping with the main story.
This is a very thought provoking and highly entertaining read- recommended with 4.5 stars.
Many thanks to Penguin Press UK and Netgalley for an advance reading copy in exchange of an honest review.
Gary Stevenson has written an absolutely fascinating book, and in doing so, he has done something I had previously thought would have been impossible, he has made me actually like a banker! I think that Irvine Welsh sums up this book perfectly when he describes it as, ‘The Wolf of Wall Street with a moral compass'.
Gary did not have the start in life which one would usually associate with bankers, going to comprehensive school (after being asked to leave his grammar school for being in possession of drugs). He worked extremely hard with a paper round for the princely sum of £12 per week and then secured a place at the prestigious London School of Economics. He thrived and by winning a card game, gained an internship at Citibank and didn’t look back.
Gary soon realised that he knew a way to make money on the markets that nobody else seemed to be doing; by betting against the economy, that the poor would become even poorer.
What makes this such a great book is Gary’s honesty about the good times and the bad, his ability to explain what are very complex matters in easy to understand language and at the same time make it so very interesting.
A really excellent book that should be read by all.
It is prescient timing with Citibank having announced 20,000 redundancies this week.
Thanks to NetGalley, the author and the publisher for a Kindle copy of this book in exchange for an honest review.
A story about bakers, trading and the stock exchange, greed, high living and despair.
I am not sure if the book is about how to trade in the city banks or if it supposed to be about Gary. It stated from his earliest childhood right trough to his success and demise. I felt there was too much information about trading and the greed of the bakers and brokers to make this enjoyable reading. Did manage to hold on to the end though.
Not a book for me sorry.
Thank you Netgalley for letting me read this book.
A brilliant read about an extremely talented man who dare I say it took on the biggest bank and won. This was a real page turner capturing the highs and lows of an exciting career as a trader. A must read for anyone interested in finance or the city. Whilst there is sufficient jargon Gary provides explanations. It didn't deter my enjoyment.
The book covers his childhood and university life at L.S.E where he wins a competition gaining him entry into one of the leading banks. From the moment he arrives all bets are off as we are taken on a whirlwind journey through multi million pound deals to despair when he wishes to leave. What a superb story delivered in an often humorous style.I wasn't ready for it to end.
A must read for today
Thank you NetGalley for this early copy