The New York Times Bestseller, The Buy Side, is written by Turney Duff who worked on Wall Street since 1994, including at Morgan Stanley, the Galleon Group, Argus Partners, and J.L. Berkowitz.
His book is a high adrenaline journey through the trading underworld, as well as a searing look at an after-hours Wall Street culture where sex and drugs are the quid pro quo and a billion just isn’t enough.
Turney Duff was one of Wall Street’s most successful traders. This is the story of his success and how his money was really made – not on the trading floor or behind the computer screen, 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. In time, he became a human paradox, an addictive mess after hours, and King of the Street from nine to five. Along the way, he learned some important lessons about himself, and the too-wild-to-believe world of Wall Street trading.
A remarkable writing debut, filled with indelible moments, The Buy Side shows, as no book ever has, the rewards – and hypnotic temptations – of making a living on the Street.
Growing up in the 1980’s Turney Duff was your average child from Kennebunk, Maine, eager to expand his horizons. After trying – and failing – to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits. Those on the ‘buy side’, the traders who make large bets on whether a stock will rise or fall, are the ‘alphas’ and those on the ‘sell side’, the brokers who handle their business, are eager to please.
How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam. Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible. Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits. Naïve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in mysterious ways.
At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights, and plummeted to even lower depths, as, by day, he solidified his reputation one of the Street’s most powerful healthcare traders, and by night, he blazed a path through the city’s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside.
A fascinating, tell-all journey through Wall Street, and a poignant character study by a young man who would have destroyed himself were it not for his decision to walk away from a seven-figure annual income, The Buy Side is a must-read.
| Title | The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess |
| Author | Turney Duff |
| first published | January 1st 2013 |
| Publisher | Crown Business |
| ISBN | 077043715X |
| Language | English |
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(first published )
ISBN (ISBN13: 9780770437152)
Edition LanguageEnglish
| Title | The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess |
| Author | Turney Duff |
| first published | January 1st 2013 |
| Publisher | Crown Business |
| ISBN | 077043715X |
| Language | English |
