Roger Lowenstein

When Genius Failed: The Rise and Fall of Long-Term Capital Management - Roger Lowenstein

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Preț actualizat: 2026-06-05 · link afiliat

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In When Genius Failed, bestselling author Lowenstein captures the entire roller-coaster ride of long-term capital management in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. nA riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.--The New York Times nNAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK n nIn 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. n nWhen 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

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