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by: Roger Lowenstein  List Price: $16.50 Price: $8.19 You Save: $8.31 (50%)Prices subject to change. Availability: Usually ships in 1-2 business days
Dewey Decimal Number: 332 EAN: 9781841155043 ISBN: 1841155047 Label: Fourth Estate Manufacturer: Fourth Estate Number Of Pages: 275 Publication Date: 2002-01 Publisher: Fourth Estate Studio: Fourth Estate Related Items:
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 Rating: - Really enjoyable, a fun readTremendously readable. Biggest takeaway: correlation is not stable or sticky. Don't bet on it. Lots of insight and blow-by-blow, you really can imagine yourself in this situation. This is a good treatment between narrative and mechanics, although I'd have preferred more technical detail. Rating: - A story of mathematical calculation vs. human unpredictabilityThis classic Wall Street story is another must-read for anyone with an interest in money management. When Genius Failed chronicles the failure of the hedge fund Long Term Capital Management (LTCM), a pioneer in quantitative investment strategies. With roots from the renowned Salomon investment bank, LTCM gathered some of the world's top financial gurus to design mathematical arbitrage strategies so well planned, they were widely regarded as having virtually no risk. Among the mathematical wizards ... Read More Rating:  - Short Term Capital IrrationalityRoger Lowenstein details how the partners of "Long Term Capital Management" let greed and ego overwhelm them. LTCM was a hedge fund that was supposed to use arbitage to make money at low risk. It worked for a while, but then lots of people started getting in on the act. The rational thing to do, under the circumstances, would have been to cut back, and look for a new fields of endevour. Instead, the partners of LTCM decided to screw their investors. They returned most of the investor's ... Read More Rating: - Quite a good book but there are better ones on that topicThis is quite an entertaining book on the failure of LTCM. It is well documented but I think it will be much more appreciated by the outsiders to the realm of Finance. It disappointed me on two accounts: First, it is another one of those typical American business storytelling books where you have to read through bios of the lives of all characters before you ever get to the meat of the subject (e.g. Barbarians at the Gate) Second, the book "Inventing Money" by N. ... Read More 
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