If there was a single lesson I took away from Salomon Brothers, it is that rarely do all parties win. The nature of the game is zero sum. A dollar out of my customer's pocket was a dollar in ours, and vice versa.
In "Liar's Poker," Michael Lewis reflects on his experiences at Salomon Brothers, highlighting a fundamental lesson about the competitive nature of finance. He emphasizes that in this environment, gains for one party often come at the expense of another, creating a zero-sum game where every financial win translates into a loss for someone else.
This perspective reveals the stark realities of the financial industry, illustrating how transactions are not just a...
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