Liars Poker - A Game Played with Cash Bills for More Money

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Liar's Poker (Norton Paperback)

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  • TAG : Michael Lewis's Anniversary Edition of `Liar s Poker
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  • Any number of people may play Liars Poker, but the optimal number of players seems to be three to six. The exact statement of some of these rules depends upon the number of players. Where necessary, we will use n to refer to the number of players.

    To begin the game, each player obtains a random eight digit number. The most common method is to have each player choose a bill (of US currency, generally a one dollar bill (A more primitive version of Liars Poker is sometimes called "dollar poker.")). A player's number for that round is the serial number on the bill selected. Play begins as one player makes the opening bid. A typical bid might be "5 sevens." This means that the player estimates that the total number of sevens in all players’ numbers, including his own, is at least 5. The turn then passes clockwise to the next player on the left. For his turn, each player must either make a stronger bid or challenge the previous bid. A bid is stronger if it calls for at least the same number of occurrences of a higher rank (e.g., "5 nines") or a greater number of occurrences (e.g., "6 threes"). The zero is considered the highest rank (usually referred to as "ten" as in "7 tens").

  • The allowance of rebids greatly extends the strategic scope of Liars Poker. The necessity to bluff and determine if others are bluffing are major features of the game.

    When using US currency for playing Liars Poker, there are certain conventions the adherence to which demonstrates to others that a player is truly cultured. First, the selection of new bills for the next round must be done with proper decorum. When starting a new session, the choice of the first bill goes to the player whose fortunes as of late have been most disappointing; Thereafter, the final bidder from the previous round has the honor of choosing the first bill. The choice then rotates clockwise to the next player and continues around until all players have chosen their bills. In the first hand, the opening bidder is determined by looking at the two letters which flank the serial number. The lowest pair by alphabetical order is given the first bid. Thereafter, the final bidder of the previous hand starts off the bidding in the next round.

    Preface
    9
    Liars Poker
    11
    Never Mention Money
    18
    Learning to Love Your Corporate Culture
    32
    Adult Education
    54
    A Brotherhood of Hoods
    79
    The Fat Men and Their Marvelous Money Machine
    103

  • Like most truly valuable pieces of our culture, Liars Poker isn't immune to the onrush of new technology. Even given rather aggressive assumptions about future inflation and money supply growth, it was becoming increasingly obvious that the available supply of bills would be exhausted long before the appetites of Liars Poker players could be satisfied. The solution-- strips of computer generated random numbers known as Salomon's Liars Poker Strips (SLIPS™)-- arrived not a moment too soon. The use of these sheets of fifteen random numbers has necessitated several additional conventions to preserve the integrity of the game.

Liar's Poker - Wikipedia, the free encyclopedia

Before there was Flash Boys and The Big Short, there was Liar's Poker. A knowing and unnervingly talented debut, this insider s account of 1980s Wall Street excess transformed Michael Lewis from a disillusioned bond salesman to the best-selling literary icon he is today. Together, the three books cover thirty years of endemic global corruption perhaps the defining problem of our age which has never been so hilariously skewered as in Liar's Poker, now in a twenty-fifth-anniversary edition with a new afterword by the author. It was wonderful to be young and working on Wall Street in the 1980s: never before had so many twenty-four-year-olds made so much money in so little time. After you learned the trick of it, all you had to do was pick up the phone and the money poured in your lap. This wickedly funny book endures as the best record we have of those heady, frenzied years. In it Lewis describes his own rake s progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the jungle, a bond salesman who could turn over millions of dollars' worth of doubtful bonds with just one call. As he has continued to do for a quarter century, Michael Lewis here shows us how things really worked on Wall Street. In the Salomon training program a roomful of aspirants is stunned speechless by the vitriolic profanity of the Human Piranha; out on the trading floor, bond traders throw telephones at the heads of underlings and Salomon chairmen Gutfreund challenges his chief trader to a hand of liar s poker for one million dollars."