Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners. Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold ...
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Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners. Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a discreet private investment club limited to those rich enough to pony up millions. It became the banks' own favourite fund and from its inception achieved a run of dizzyingly spectacular returns. New investors barged each other aside to get their investment money into LTCM's hands. But as competitors began to mimic Meriweather's fund, he altered strategy to maintain the fund's performance, leveraging capital with credit on a scale not fully understood and never seen before. When the markets in Indonesia, South America and Russia crashed in 1998 LCTM's investments crashed with them and mountainous debts accumulated. The fund was in melt-down, and threatening to bring down into its trillion-dollar black hole a host of financial instiutions from New York to Switzerland. It's a tale of vivid characters, overwheening ambition, and perilous drama told, in Roger Lowenstein's hands, with brilliant style and panache.
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Add this copy of When Genius Failed: the Rise and Fall of Long-Term to cart. $0.99, poor condition, Sold by Dream Books Co. rated 5.0 out of 5 stars, ships from Denver, CO, UNITED STATES, published 2001 by Random House Trade Paperbacks.
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Very Good. . All orders guaranteed and ship within 24 hours. Your purchase supports More Than Words, a nonprofi t job training program for youth, empowering youth to take charge of their lives by taking charge of a business.
Add this copy of When Genius Failed: the Rise and Fall of Long-Term to cart. $1.99, good condition, Sold by ThriftBooks-Atlanta rated 5.0 out of 5 stars, ships from Brownstown, MI, UNITED STATES, published 2001 by Random House Trade Paperbacks.
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The item shows wear from consistent use, but it remains in good condition and works perfectly. All pages and cover are intact (including the dust cover, if applicable). Spine may show signs of wear. Pages may include limited notes and highlighting. May NOT include discs, access code or other supplemental materials.
