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Cover of When Genius Failed by Roger Lowenstein

When Genius Failed

Roger Lowenstein · 2000

The riveting story of Long-Term Capital Management — a hedge fund staffed by Nobel laureates that nearly destroyed the global financial system in 1998. Despite the most sophisticated risk models ever built, LTCM was undone by leverage, hubris, and model failure. The cautionary tale that proves intelligence and sophistication are not protection against catastrophe.

Business & Investing · the Pro canon

The case for it, the case against, and the rest of the canon open with Pro.