I found myself re-reading the Financial Review article, ’Hitting the wall – Michael Lewis figures out what went wrong, 30 January 2009’ by Michael Lewis, author of Liar’s Poker over the summer holidays.
For those of you not familiar with the book Liar’s Poker it takes you through the fall of Salomon Brothers through the perspective of a former employee Michael Lewis. One of the key figures in the book is the “immensely rich chairman of Salomon Brothers, John Gutfreund.” Gutfreund was eventually forced to resign from Salomon Brothers, and supposedly fell on harder times. Lewis tracked him down to find that he was working on a panel about Wall Street at Columbia Business School. “When his time came to speak, he advised students to find something more meaningful to do with their lives. As he began to describe his career, he broke down and wept.”
The book Liars Poker and article provide a fascinating read on a number of levels, particularly around the trading and packing of the mortgage bond. As I re-read the article the message of having a sense of meaning and purpose in your work emerged. A topic that I covered in a previous post ‘Questions to Help You Find ‘Meaning’ in Your Work’
While for some, the concept of having meaningful work may appear soft or perhaps simply impossible – the reality is that for most of us having a meaningful work life, brings a sense of purpose and satisfaction. Would Gutfreund have experienced this insight had he not fallen on hard times? I would like to think so. Regardless, it certianly offers food for thought.







