Ugly Americans by Ben Mezrich

I started reading Ugly Americans by Ben Mezrich again this weekend. Have read it probably twice before. Just wondering if anyone else had read it and their thoughts into it.

Its a story about a Princeton grad that goes to work for Kidder Peabody in Japan doing primarily index arb in the Mid 90s and how they made a fortune and had an incredible time during the process.

 

I'd say Mezrich really dramatizes the sort of shift in the paradigm for more western cultures, tradtions, and economic systems in Japan, but more so the broader East Asian Region in the 90s. It's also partially based on a true story.

Mezrich maintains his infatuation with writing narratives about these twentysomething, Ivy League graduates, living insane, crazy lifestyles and of course, working for "The Man." This is not surprising.

But most striking is the title itself: Ugly Americans. The main character enters the field with no expectations or experience. He has no idea what he's getting into. He seizes the opportunity to live and work in Japan, which is pretty sick. Yeah, people respond to incentives. Once he's making money, he becomes a cutthroat, aggressive kind of guy, which is shaped by his experiences both on and off the trading floor and the characters around him. His personality takes a 180 after living in a foreign country. He truly changes. He definitely embodies the so called "Ugly American" in this story.

From a technical perspective, any other thoughts on the trading tips and lessons that the book illustrates will be entertained.

 

from what I know about Mezrich and I have also read Bringing Down the House and Rigged I think the stories are probably true. I find the way Japanese portray outsiders in particular very interesting. That seemed to play just as much of the story as what they were actually in Japan doing.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 
Best Response

I've read Bringing....; UA; and Rigged....enjoyed all of them and finished each in 1-2 nights.

As a finance guy, I find myself frustrated when Mezrich abbreviates his explanations of the mechanics - eg: in 'Rigged', he doesn't really discuss what a market maker does and would have you believe that floor traders are pure speculators; he also sums up the Dubai exchange as "trading a different type of contract", so as not to compete with the Merc. His discussion of card counting in Bringing... is basically nil.

Obvious explanation is that he's writing for a wider audience and is more interested in the personas and lifestyles of the people he writes about - key theme is always young people making tons of money and enjoying spending it. I've enjoyed everything I've read by him, though I wouldn't call it revelatory.

 

I think his books are designed to be pretty addictive and a very light read about something people can relate to. I also breezed through Rigged and UA the first time in a couple of days.

I enjoy the more technical reads such as the book about the rise and fall of LTCM in its explanations of the types of arb they were doing however it was still easy for the reader to pick it up quickly.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

lmao just recommended this book to a friend and my first thought was "this book sounds like Eddies life" Midas if you havent read this one you will love it.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

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