Please try againSorry, we failed to record your vote. Too bad not enough people read this book before the 2008 crisis. When Genius Failed: The Rise and Fall of Long-Term Capital Management What makes this unique is the amount of confidence and arrogance associated with this failure. The quote I loved reading in the book from John Maynard Keynes is “one bet soundly considered is preferable to many poorly understood.” Entertaining. This is not an unusual story. A must read before anyone's going to enter trading or even financial markets for that matter. I would advice people to not read it for fun, because it is not a fun read. Flash Boys: A Wall Street Revolt Please check 'EMI options' above for more details. -- -- -- ---- -- Read more. What was quite striking was that none of the trades were particularly exotic - they just used far too much leverage and the greedy banks were too willing to give it out in order to try to get access to market flow. When Genius failed tells the story of the rise and fall of LTCM, probably the best known Hedge Fund in the world. Reviewed in the United Kingdom on September 16, 2009 Liar's Poker: From the author of the Big Short (Hodder Great Reads) When Genius Failed: The Rise and Fall of Long Term Capital Management (Inglés) Tapa blanda – 2 enero 2002 de Roger Lowenstein (Autor) › Visita la página de Amazon Roger Lowenstein. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.This shopping feature will continue to load items when the Enter key is pressed. The other factor is the human factor: over-reaching their expertise, pride and a bit too much greed.Anyone interested in financial markets needs to read thisReviewed in the United Kingdom on September 8, 2015
AN UNREALISTIC EXPECTATION THAT GENIUS IS INFALLABLE Liar's Poker (Norton Paperback) … Your recently viewed items and featured recommendations His outline of the happening of the rise, and fall, of LTCM and the Fed bailout, proves a very good insight on the world of finance, even for the layman. Since the mortgage meltdown that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later, When Genius Failed seems only more timeless. Quite easy to read (in the sense that it doesn't assume ... Find all the books, read about the author, and more.
The real genius of the book was that Lowenstein nailed WHY genius failed. If you are just getting your feet wet in finance, or whether you are a veteran. Lowenstein goes through the rise of J. Meriwether and Solomon brothers, to the revolutionary idea of bringing in the professors at MIT to become traders, taking the business from home spun to high tech. i had been eagerly awaiting "when genius failed" on kindle, but i don't think it is nearly as good. The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It Even negatively correlated assets become directly positively correlated during a calamity, where all assets go down. Please try againSorry, we failed to record your vote. Roger Loewensten describes how the extreme perils of derivative risk that brought down LTCM, were fundamentally the same risks that caused the financial crisis ten years later. Reviewed in the United Kingdom on February 18, 2019 I had to check a number of times to make sure this was actually a factual book and not fiction as they story is so unbelievable. “A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”— The Big Short: Inside the Doomsday Machine I've read it a number of times now and it never fails to intrigue and horrify. Amazon calculates a product’s star ratings based on a machine learned model instead of a raw data average. Big Profits)

The machine learned model takes into account factors including: the age of a review, helpfulness votes by customers and whether the reviews are from verified purchases.Sorry, we failed to record your vote. Lowenstein did a terrific job of introducing the reader to the quirky personalities at Long Term Capital and their interactions with Wall Street, European and Asian investment banks and the Fed. He gathered together his former disciples and a handful of supereconomists from academia and proposed that they become partners in a new hedge fund different from any Wall Street had ever seen. Easy to read. Select your address “A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—

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