Friday, April 29, 2011

The Futures, written by Emily Lambert, a senior writer at Forbes magazine


The Futures, written by Emily Lambert, a senior writer at Forbes magazine.

 The Futures is a good book, especially if it is your first book into the history of the Chicago Exchanges. Emily Lambert does a good job at laying out some basic history of the exchanges and she organizes the chapters by commodity which is convenient. She makes the subject matter interesting by going through the list of the usual suspects, to her credit she also comes up with some people we don’t hear from much anymore like Maury Kravitz, she also describes his hunt for Genghis Khan’s treasure ,which I always thought was cool. What made the book interesting for me was that one of the characters in the book is Bill Henner a 3rd generation trader who happens to be a friend and a business associate of mine, It was nice to see him in the book.

Overall, It is a good book, though I wish it was a bit more balanced; She had the cigar smoke and pinky rings scene down, but I was hoping that she also included the positive aspects of what the Exchanges have to offer and the people who have dedicated their careers to working in them.

Wednesday, April 6, 2011

Zero-Sum Game: The Rise of the World's Largest Derivatives Exchange






Zero-Sum Game: The Rise of the World's Largest Derivatives Exchange

Zero-Sum Game is a well-written and very informative book. The author, a former Chicago Board of Trade (CBOT) employee Erika Olson, does an excellent job describing the merger of two bitter rivals; the Chicago Board of Trade and the Chicago Mercantile Exchange and the multibillion-dollar bidding war between the Chicago Mercantile Exchange (CME) and the InterContinentalExchange (ICE) for control of CBOT. Olson also does a great job interweaving the history of the exchanges, the mechanics of the exchanges and giving us amusing insight to the Who’s who of the industry, all in a very easy to read format.

Being involved in the industry I was drawn to the book, I thought I was buying a book that would provide me insight to the history & cultures of the CBOT and the CME; I never thought that I was also buying a thrilling page turner which the book turned out to be! 

This book is a must read for anyone in the futures industry, I would also recommend this book to anyone interested in the politics of a merger.