Description

Book Synopsis
“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 Stree

When Genius Failed The Rise and Fall of LongTerm

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    A Paperback / softback by Roger Lowenstein

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      Book details

      Publisher Penguin Random House Group
      Imprint Random House Inc
      Published 9 October 2001
      ISBN-13 9780375758256
      978-0375758256
      ISBN-10 0375758259
      Also in:
      Business, Finance & Law Economic systems and structures Economics Investment and securities

      Description

      Book Synopsis
      “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 Stree

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