Five good reads

Mon Sep 1, 2003



1. When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein.

'When Genius Failed' is a class piece of writing that should be on the reading list of anyone interested in global finance, leverage and risk. But more than that, this is a thriller about passion and greed that is hard to put down.

As other reviewers have noted, knowing what ultimately happens to LTCM does nothing to dull the suspense and trepidation as wave upon wave of seemingly unrelated financial market shocks pile up and LTCM rushes headlong towards disaster. Along the way, Lowenstein captures all the drama of the catastrophic events leading to the near collapse of Long-Term Capital Management in 1998, the intellectual arrogance of LTCM's team who believed they could not fail and the tension of the meetings held at the Federal Reserve Bank of New York attended by Wall Street's power...

ISSN: 2151-1845 / CDC10004H

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