Book Review: The Buy Side

The Buy Side
A Wall Street Trader's Tale of Spectacular Excess
By Turney Duff

A true account by a former Galleon Group trader, The Buy Side is a behind-the-scenes look at an after-hours Wall Street culture where drugs and sex are rampant and millions in trading commissions flow to those who dangle the most perks. In the mid-2000's Turney Duff appeared to be the very picture of American success. One of Wall Street's hottest traders he was a rising star with Raj Rajaratnam's Galleon Group before jumping to Argus Partners and, later J.L. Berkowitz. What few knew was that the key to Turney's remarkable success wasn't financial wizardry but rather a winning personality - because the real money was made not on the trading floor but in whispered deals in the city's most exclusive nightspots, surrounded by the best drugs and hottest women. 

For Turney this created a perilously seductive cycle: the harder he partied the more connected and successful he became, which meant he could party even harder. By day he solidified his reputation as a gifted trader and by night be blazed a path through the city's nightclubs, cutting million-dollar deals and voraciously inhaling any drug that would fill the void he felt inside. A mesmerizingly immersive journey through Wall Street's hidden terrain, and poignant self-portrait by a young man who surely would have destroyed himself were it not for his decision to walk away from a seven-figure annual income. 

Turney Duff began working on Wall Street in 1994 landing positions at Morgan Stanley, the Galleon Group, Argus Partners, and J.L. Berkowitz. These days he lives in New York metro area and divides his time between various writing projects and spending time with his daughter. 

I have to say, that I was completely unaware Wall Street was anything but a buying and selling machine before reading The Buy Side. I wasn't surprised though. Turney Duff does a fantastic job telling the story of his life as a trader, in what seems to be a warning to us. If you like Ex-Muslim or Out of the Depths you'll love reading this book.

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