When Genius Failed

When Genius Failed
Nettpris
Nettpris
183,- 183,-
Førpris 229,- Spar 46,-
Førpris 229,- Spar 46,-
E-Bok
Format E-Bok
Kopisperre Teknisk DRM
Filformat ePUB
Utgivelsesår 2001
Forlag Random House Publishing Group
Språk Engelsk
ISBN 9780375506444
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Om When Genius Failed

With a new Afterword addressing today's financial crisisABUSINESS WEEKBEST BOOK OF THE YEARIn this business classicnow with a new Afterword in which the author draws parallels to the recent financial crisisRoger 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.When 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 the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM's implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instabilityand as a wake-up call that Wall Street and government alike tragically ignored.


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