When Genius Failed: The Rise and Fall of Long Term Capital Management book by Roger Lowenstein
By Roger LowensteinWhen Genius Failed: The Rise and Fall of Long Term Capital Management book by Roger Lowenstein
“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist Published By Random House Trade Paperbacks on 2001-10-09
Book details
- Paperback
- 290 pages
- English
- 9780375758256
- 0375758259
About Roger Lowenstein
More Books By Roger Lowenstein
Buffett: The Making of an American Capitalist book by Roger Lowenstein
New Book
When Genius Failed: The Rise and Fall of Long Term Capital Management book by Roger Lowenstein
New Book
People who bought this also bought
The Soaps: Daytime Serials of Radio and TV Book by Madeleine Edmondson
Used Book
Great by Choice: Uncertainty, Chaos, and Luck. Why Some Thrive Despite Them All book by James C. Collins
New Book
Complete Russian Beginner to Intermediate Course book by Daphne West
New Book
Ibuku Ria Ngai Kirikaniro Gai Kanitha [Gikuyu Pulpit Bible]
New Book
The Splendid and the Vile: A Saga of Churchill, Family, and Defiance During the Blitz book by Erik Larson
Used Book
Competing Against Luck: The Story of Innovation and Customer Choice book by Clayton M. Christensen
New Book
Three Weeks with My Brother: A Memoir by Nicholas Sparks
Used Book
The Enough Moment: Fighting to End Africa's Worst Human Rights Crimes book by John Prendergast
New Book
The Contented Baby's First Year: The Secret to a Calm and Contented Baby book by Gina Ford
New Book
Do Hard Things: A Teenage Rebellion Against Low Expectations book by Alex Harris
New Book
A Profound Mind: Cultivating Wisdom in Everyday Life book by Dalai Lama
New Book
The Lead Machine : The Small Business Guide to Digital Marketing
Used Book
Fragments: Memories of a Wartime Childhood book by Binjamin Wilkomirski
Used Book
Power Moms: How Executive Mothers Navigate Work and Life book by Joann S. Lublin
New Book
The Kingdon Pocket Guide to African Mammals book by Jonathan Kingdon
New Book
Bittersweet: How to Turn Sorrow Into Creativity, Beauty and Love book by Susan Cain
New Book
Something Lost, Something Gained: Reflections on Life, Love, and Liberty book by Hillary Rodham Clinton
New Book
How to Instantly Connect with Anyone: 96 All-New Little Tricks for Big Success in Relationships book by Leil Lowndes
New Book
Parker and Mellows: The Modern Law of Trusts book by A.J. Oakley
New Book