
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.