The Buy Side

  • by Turney Duff
  • Narrated by Turney Duff
  • 8 hrs and 42 mins
  • Unabridged Audiobook

Publisher's Summary

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. Naive 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.

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Customer Reviews

Most Helpful

Fascinating, honest tale of life on the "Street"

I took a risk on buying this book as I am completely illiterate in all things Wall Street. It paid off quite nicely because the author takes us through his journey on Wall Street from his own beginning as an painfully clueless intern. He explains the function of a Wall Street trader in a way that almost anyone can understand and I found it fascinating. He takes the reader with him as he moves up the ladder, becoming one of the biggest names on the Buy Side. While doing this, Duff seamlessly delves into the accompanying lifestyle of the trader-where more money can be made in one day than many people make in a decade. The excess is almost inevitable but it's the drugs that are Duff's final undoing. And eventually, his redoing. Ultimately, he sees the emptiness in all of it but not until he goes through his own version of hell. The beauty of this book is that you need not be a finance major to enjoy it, because the book is not about finance, or stocks, or trading at all. It's about our ever-increasing need to find something outside of ourselves to make us happy, and never finding it.
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- Courtney

Enthralling story

Would you listen to The Buy Side again? Why?

I would listen to this book again.


What did you like best about this story?

Duff paints a picture for the listener, I truly believe him even when he isn't quite sure what happened.


Which character – as performed by Turney Duff – was your favorite?

Raj.


If you were to make a film of this book, what would the tag line be?

A blow by blow account of the street's spectacular highs, and lows.


Any additional comments?

Don't quit during the opening preface. I had a strong urge to stop listening right off the bat however, after Duff 'warmed up' The Buy Side seemed to flow more naturally.

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- richard

Book Details

  • Release Date: 06-04-2013
  • Publisher: Random House Audio