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

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9781841155036: When Genius Failed: The Rise and Fall of Long Term Capital Management
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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, like alchmists, beat the market and create limitless wealth. In fact, they created a trillion-dollar hole in the international banking system.

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 institutions from New York to Switzerland. It is 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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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 institutions from New York to Switzerland. It is 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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Otras ediciones populares con el mismo título

9780375758256: When Genius Failed: The Rise and Fall of Long-Term Capital Management

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ISBN 10:  0375758259 ISBN 13:  9780375758256
Editorial: Random House Inc, 2001
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9781841155043: When Genius Failed: The Rise and Fall of Long Term Capital Management

Fourth..., 2002
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9780375503177: When Genius Failed: the Rise and Fall of Long-term Capital Management

Random..., 2000
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Lowenstein, Roger
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Descripción Hardback. Condición: Very Good. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Nº de ref. del artículo: GOR001340385

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Lowenstein, Roger
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Descripción Hardback. Condición: Good. The book has been read but remains in clean condition. All pages are intact and the cover is intact. Some minor wear to the spine. Nº de ref. del artículo: GOR002817127

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Lowenstein, Roger
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Descripción Random House, 2000. Condición: Good. First Edition. Shows some signs of wear, and may have some markings on the inside. Nº de ref. del artículo: GRP8596858

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Descripción Fourth Estate, UK, 2001. Hardcover. Condición: Good. All of our books without an ISBN number (normally pre-1970 in date) are described individually in detail. Books with an ISBN number (this one included) are all offered for sale in a good condition or better: some may be in very good, near fine, or fine condition. If the condition is critical to your decision to purchase, then please contact us and we will let you know our view of its condition. If the book is extremely heavy, we will need to contact you before completion of purchase to advise you of extra postage costs. Nº de ref. del artículo: 41571

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Descripción London: Fourth Estate, 2001. Condición: Gut. XXI, 264 S. Umschlag leicht berieben. Farbstiftanstreichungen oder -anmerkungen. - THE RISE OF LONG-TERM CAPITAL MANAGEMENT Meriwether --Hedge Fund --On the Run --Dear Investors --Tug-of-War --A Nobel Prize --THE FALL OF LONG-TERM CAPITAL MANAGEMENT Bank of Volatility --The Fall --The Human Factor --At the Fed --Epilogue. ISBN 9781841155036 Sprache: Englisch Gewicht in Gramm: 550 Originalhardcover mit Schutzumschlag. Nº de ref. del artículo: 1096297

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Roger Lowenstein
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Descripción Random House, 2000. Condición: Good. A+ Customer service! Satisfaction Guaranteed! Book is in Used-Good condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain limited notes and highlighting. Nº de ref. del artículo: 1841155039-2-4

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Descripción Fourth Estate, UK, 2001. Hardcover. Condición: Good. Nº de ref. del artículo: 24223

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Roger Lowenstein
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Descripción Fourth Estate, London, 2001. Hardcover. Condición: Near Fine. Estado de la sobrecubierta: Near Fine. 1st Edition. Size: 8vo - over 7¾" - 9¾" tall. Book. Nº de ref. del artículo: 001186

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