Shut Up and Keep Talking: Lessons on Life and Investing from the Floor of the New York Stock Exchange

by Bob Pisani, Burton G. Malkiel (Introduction)

Bob Pisani is Senior Markets Correspondent for CNBC and has spent the past 25 years on the floor of the New York Stock Exchange.

He has been on the front line of finance for all the major events of the last quarter century, including the Asian Financial Crisis, the dot-com bubble and collapse, the terrorist attacks of 9/11, and the Great Financial Crisis.

What was it like to witness these events firsthand, at the center of the financial world?

In Shut Up and Keep Talking , Bob tells a series of captivating stories that reveal what he has learned about life and investing.

These include encounters with a host of stars, world leaders and CEOs, including Fidel Castro, Robert Downey Jr., Walter Cronkite, Aretha Franklin, Barry Manilow, Jack Ma, Joey Ramone, and many more.

Along the way, Bob describes how the investment world has changed, from brokers shouting on the floor of the NYSE to fully electronic trading, from investment sages and superstars picking stocks for exorbitant fees to the phenomenal rise of low-cost index funds that are saving investors millions, and from the belief that investors make rational decisions to the new age of behavioral finance, which recognizes the often-irrational nature of human decision making and seeks to understand its role in the stock market.

Bob also considers what really moves stocks up and down and tackles the big why is stock picking so hard, and why is the future so unknowable?

Don’t miss this highly entertaining and revealing account of how financial markets have changed, and how they really work, from someone who was there.

472 pages, Hardcover

Published October 18, 2022

Reviews

[Benjamin · Rating 2 out of 5]

Nothing special, would not recommend

[Doug · Rating 5 out of 5]

Very much enjoyed the book and all of Bob’s stories. He is a funny and interesting person both on and off camera, and this comes through. This is a great read for anyone interested in the markets or investing. Bob does a wonderful job explaining how things work, and how people should think about their personal investments.

[Dr. Alan Albarran · Rating 4 out of 5]

I'm a regular long-term viewer of CNBC, and have always appreciated the reports from Bob Pisani, so I welcomed the opportunity to review an ARC of this book. My thanks to the author, publisher and NetGalley for the opportunity.

If you enjoy reading books about investing and what goes on in the markets you will enjoy this book. However, that's just the short version. Pisani literally takes you on an autobiographical tour of the New York Stock Exchange and how it is has evolved over the years, which in itself is a fascinating ready. Readers will get a deep and full understanding of the impact of electronic trading, the rise of index funds and ETFs, and many, many other bits of knowledge.

Sprinkled throughout the book are Pisani's own reflections of how he invests, the many fascinating people he has met over the years, and how investors should think about the markets and their portfolios.

Very enjoyable and informational read. Highly recommend it. I give it 4.3 stars rounded to 4 only because some parts of the book contained some repetitive information and a few chapters were highly technical and in need of some charts or other data to follow the presentation..

[Marsha · Rating 5 out of 5]

I found Bob Pisani’s first hand accounts of the Great Financial Crisis, 9/11, and the evolution of trades being executed from the NYSE trading floor to today’s electronic trades to be thought provoking. I also believe his experiences will be historically valuable. Though, I feared this book might be a bit dry for me, Pisani possesses a wit that engages the reader and allows them a peek into his personality as well as his vulnerabilities. Bob Pisani shares his past mistakes in investing and the irrational behaviors that all investors can become caught up in. He shares stories about interesting people he has met and interviewed throughout his career….CEOs, Stock Traders, Entertainers, and even a dictator! And does so with humility and humor.

[Kelly McCauley · Rating 4 out of 5]

Fans of CNBC will really enjoy this book. Bob Pisani has been a staple of the channel for over 30 years. In this book, he provides a glimpse behind the curtain of the NYSE floor. His antecdotes about various guests were interesting. I particularly enjoyed reading about Pisani's investing philosophy. I appreciated that he specifically described his investments down to the fund names. At times the book felt a little disjointed as he skipped around between describing personal anecdotes vs historical trends in the stock matket. However, overall I really enjoyed the subject matter.

Thank you to Netgalley for providing a complimentary ARC in exchange for my honest feedback!

[Reader · Rating 5 out of 5]

I absolutely loved this book! Working in finance in the 90’s we had CNBC continuously on screen in the trading room, and Bob’s face (along with Maria Bartiromo’s-shame she has turned into a MAGA caricature because she was fierce!) was ubiquitous in stock market circles. There is sooo much nostalgia here for me, I couldn’t turn the pages fast enough. The anecdotes, industry icons, industry culture, market crashes, lessons learned, the stories…all of it spot on and entertaining. Almost made me want to come out of retirement, and the only 5 star rating I’ve given to date.

[Dave Whalen · Rating 3 out of 5]

Fun and breezy riff on the NYSE and lessons learned from Pisani's three decades on the trading floor.

[David Billingsley · Rating 5 out of 5]

Though the book is dated, it gives the reader a bird's eye view of the NYSE environment and Pisani's day to day job on the floor. I love the fact that he promotes index investing in the book.

[Rick · Rating 5 out of 5]

This was a fun read. Many memories from the 3+ years I worked on the floor of the NYSE are recounted and serve to remind me of just how blessed I am to be an NYSE Alum. What a fraternity!

The book fills a niche that no others really capture: Bob shares his personal experiences of the verve and color found inside the institution itself. From the clicking of the timestamps and the rustling of 6" of paper underfoot, to the din of the familiar voices from the many colorful personalities that made "working on the floor" THE greatest job ever conceived. This is a page-turner that anyone would enjoy.