The Rise and Fall of Long-Term Capital Management
$16.99 | By Roger Lowenstein | Order Now
Have you ever wondered how one of the most celebrated hedge funds in history could come crashing down, threatening the entire financial system? In When Genius Failed, Roger Lowenstein delivers a riveting account of the meteoric rise and catastrophic fall of Long-Term Capital Management (LTCM). Through confidential memos and insider interviews, this business classic unpacks a story of arrogance, mathematical certainties, and Wall Street’s culture of risk, offering powerful lessons on hubris and financial instability.
Why When Genius Failed is a Must-Have
- Unparalleled Access: Explore the inner workings of LTCM, revealed through interviews with key players and confidential memos.
- Universal Lessons: Understand how hubris, risk, and unchecked ambition can lead to catastrophic consequences.
- Timely Afterword: Draws parallels between LTCM’s collapse and the 2008 financial crisis, offering critical insights into recurring market failures.
What You’ll Get with When Genius Failed
- Fascinating Case Study: A detailed narrative of LTCM’s dazzling success and shocking implosion.
- Critical Insights: How personalities, overconfidence, and blind faith in models contributed to disaster.
- Broader Context: A wake-up call about systemic risk and the dangerous culture of modern finance.
- New Reflections: An updated Afterword connecting LTCM’s failure to later financial crises, highlighting lessons still unheeded.
Why It Matters
The fall of Long-Term Capital Management was more than a hedge fund collapse—it was a warning about the fragility of markets and the dangers of unchecked ambition. When Genius Failed proves that even the most brilliant financial minds can succumb to hubris, and that their failures often ripple far beyond their firms. This book offers:
- A captivating story of risk, greed, and failure.
- A deeper understanding of the systemic vulnerabilities of Wall Street.
- Timeless lessons on the perils of overconfidence and unexamined assumptions.
Your Guide to Understanding Financial Risk and Resilience
Whether you’re a financial professional, an academic, or a curious reader, When Genius Failed provides essential insights into the human and systemic factors driving financial markets.