The Buy Side

The Buy Side

By Turney Duff

  • Release Date: 2013-06-04
  • Genre: Biographies & Memoirs
Score: 4.5
4.5
From 626 Ratings
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Description

New York Times Bestseller

The Buy Side, by former Galleon Group trader Turney Duff, portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements.  A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards – and dizzying temptations – of making a living on the Street.
 
Growing up in the 1980’s Turney Duff was your average kid 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 sometimes mysterious ways.
 
At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights – and, as it turned out, 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 mesmerizingly immersive journey through Wall Street’s first millennial decade, and a 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, The Buy Side is one of the best coming-of-age-on-the-Street books ever written.

From the Hardcover edition.

Reviews

  • Awesome

    5
    By Ddbecker
    One of the best books I have read in years.
  • Serenity Now!

    5
    By Dbatman
    Touney, thank you for sharing a part of your life that many would rather hide from, for your honesty, your struggles, your realism and personality. While I trained on Wall Street over 30 years ago, I've been on the retail side for many years and I'm still learning. It's eye opening to see the evil and greed that nearly ruined our country and the world, and so many turn a blind eye. You've inspired me to stay the course and continue helping individuals meet their financial goals. We are all sinners and far from perfect, but God knew that when he made us, and is there to show us his unending grace and love. I pray you find his love through Christ Jesus and wish you much success in the future.
  • Feel like I lived it.

    5
    By Fred-ed
    Just an incredible story about the lifestyle of a buy side Wall Street trader. Turney's writing is genuine, authentic, raw, real, funny and addicting (no pun intended). I couldn't put this book down and was captivated from the very beginning. I picked this book up after attending a capital markets conference on Wall Street and visiting my daughter in TriBeCa. Reading this book you will feel a real connection to Turney as you live each moment. Read this book. It's moving, humbling and absolutely captivating. Best book I've read since Unbroken. Thanks for sharing your story Turney. You almost feel like a friend whom I will miss now that I've finished your book.
  • Fantastic

    5
    By FortybyNature
    This is a coming of age story set within the most dramatic 15 years in the history of finance. The writing is so conversational it makes you feel like you're sitting next to Turney Duff via fireplace. The financial aspects of the book are written in a way that everyone can understand. What ultimately ends up being a cautionary tale is gripping funny and amazing ending.
  • Great Story by a Outstanding New Author...

    5
    By troyjjensen
    "The Buy Side" is a fascinating and realistic look at a Wall Street Lifestyle many never see behind the shiny veneer put on everyday by so many. I know...the story is told with just the right amount of cynical humor and the dark, gritty realism that follows the author through the chaotic descent of the author's life into drugs and an empty world filled with empty people...all punctuated during the climatic ending with the background of the 2008-2009 economic meltdown and it "sobering" effect on Wall Street. In more ways than one...
  • Couldn’t put it down

    4
    By Moses609
    This story ‘hit home’ with me. Thanks for yoru courage Turney. Keep writing and stay sober.
  • Turney is a great story teller!

    5
    By steelers7777
    When I picked up this book, I didn't know what to expect. I thought it was just another Wall Street guy trying to cash in on the wolf of wall street media storm. I was pleasantly surprised! The book is told from such a down to earth, normal person perspective that makes you feel the emotions he describes with true understanding of what he is going through. This is an amazing story and I can't wait for more of his work!
  • You're Not Alone

    5
    By Erik1976
    Tourney, you basically told my story. The identification brings me comfort and hope. Keep up the great work, and keep close to the program. Can't wait to read your next book.
  • Amazingly sad and fab!

    5
    By Ripplemom
    Such a great read. I often had a hard time putting it down. Thank you for laying it all out there. If you inspired one person to be the very best they can be ... never forgetting about your family ... This is truly PRICELESS! Not that it really matters ... But I am happy for you and your success. I wish you true happiness!
  • Great Read

    5
    By Big Al J.
    I page turner by a gifted writer. I felt like I was standing next to him watching him go through the ups and downs of his Wall Street journey. It also confirms what we all know.......the corporate world is corrupt. I like his take on Jim Cramer who is a clown. We all put money in stock funds wether we like it or not, it's Russian Roulette!

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