"When Genius Failed" is a book by Roger Lowenstein that tells the story of Long-Term Capital Management (LTCM), a hedge fund that was once considered one of the most successful and innovative in the world. It shows the dangers of excessive leverage and complexity in finance, and the need for proper risk management. The book provides an inside look at the inner workings of one of the most famous and controversial hedge funds of all time and how its founders, who were considered some of the most brilliant minds in finance, were unable to predict and prevent its downfall. Despite their best efforts to save the fund, LTCM's losses were so great that it had to be bailed out by a group of major banks and investors. However, as the book explains, the fund's success was built on a foundation of risky and leveraged investments, and when the Russian government defaulted on its debt in 1998, it caused a massive shock to the bond market and the fund's positions began to unravel.
The team used complex mathematical models and sophisticated risk management techniques to make large investments in the bond market, and they were able to achieve annual returns of over 40% for several years. The main characters of the book are John Meriwether, the founder of LTCM, and a team of brilliant mathematicians and economists who were recruited to work at the fund. The book provides an in-depth look at the people behind LTCM and the strategies they used to achieve such incredible returns in the early days of the fund. The book details the events leading up to the fund's collapse in 1998, which almost brought down the global financial system and had to be bailed out by the Federal Reserve. Urn:oclc:874120289 Scandate 20110726202138 Scanner : 2001 "When Genius Failed" is a book by Roger Lowenstein that tells the story of the rise and fall of Long-Term Capital Management (LTCM), a hedge fund that was once considered one of the most successful and innovative in the world. O元268118W Page-progression lr Page_number_confidence 89.38 Pages 294 Ppi 500 Related-external-id urn:isbn:1841155047 Urn:lcp:whengeniusfailed00roge:epub:77279da9-e579-48a2-8711-00046050bd0e Extramarc University of Pennsylvania Franklin Library Foldoutcount 0 Identifier whengeniusfailed00roge Identifier-ark ark:/13960/t7br9q98d Isbn 0375758259 Lccn 00028091 Ocr_converted abbyy-to-hocr 1.1.20 Ocr_module_version 0.0.17 Openlibrary OL7427501M Openlibrary_edition
Access-restricted-item true Addeddate 18:48:54 Bookplateleaf 0002 Boxid IA1398803 Boxid_2 CH108901 Camera Canon EOS 5D Mark II City New York Donorīostonpubliclibrary Edition Random House Trade pbk.
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