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When Genius Failed: The Rise and Fall of Long-Term Capital Management – Roger Lowenstein
Non-fiction / 24th March 2023

Introduction When Genius Failed is about the disgraced Long-Term Capital Management. This book was recommended in Richer, Wiser, Happier. Since I decided to read the recommended books in Richer, Wiser, Happier, I start with this book first. Author Roger Lowenstein is an American author, journalist and columnist. He is also a director of Sequoia Fund. Content When Genius Failed has an introduction, 10 chapters, an epilogue, and an afterword. The chapters are divided into 2 parts: The Rise of Long-Term Capital Management (first 6 chapters) and The Fall of Long-Term Capital Management (4 chapters). The chapters are: 1. Meriwether 2. Hedge Fund 3. On the Run 4. Dear Investors 5. Tug-of-War 6. A Nobel Prize 7. Bank of Volatility 8. The Fall 9. The Human Factor 10. At the Fed Review When Genius Failed is about an investment firm known as Long-Term Capital Management. It shows how an investment firm (hedge fund) threatened the whole economy. Nonetheless, this history of Long-Term Capital Management is unauthorised. Long-Term Capital Management is a hedge fund. It opened for business at the end of February 1994 and managed to recruit top traders and scholars including 2 Nobel Laureates in Economic Sciences (Robert Merton and Myron…