SKU: 3636712207

When Genius Failed: The Rise and Fall of Long-Term Capital Management

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When Genius Failed: The Rise and Fall of Long-Term Capital Management"A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure." The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic now with a new Afterword in which the author draws parallels to the recent financial crisis Roger Lowenstein captures the gripping roller coaster ride of Long Term Capital Management. Drawing on confidential internal

"A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure."--The New York Times

NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK

In this business classic--now with a new Afterword in which the author draws parallels to the recent financial crisis--Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall.

When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term's fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM's implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability--and as a wake-up call that Wall Street and government alike tragically ignored.

Praise for When Genius Failed

" Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris."--BusinessWeek

"Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating."--The Washington Post

"Story-telling journalism at its best."--The Economist

Binding Type: Paperback
Publisher: Random House Trade
Published: 10/09/2001
ISBN: 9780375758256
Pages: 304
Weight: 0.46lbs
Size: 8.01h x 5.16w x 0.60d
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SKU: 3636712207

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Erik
Natrona Heights, US
★★★★★ 5
Somewhat niche but a treasure-trove nonetheless!
Format: Paperback
A somewhat niche topic but a small treasure-trove of a book nonetheless! Definitely something I would recommend to anyone thinking seriously about and planning on studying mission. More than just a descriptive history book, the various essays focus on what can be drawn and learned from particular figures and movements. I picked the book because I knew next to nothing about 16th century missions (and not very much about Protestant or Roman Catholic missions in general) and thought it would be good to fill in some of my knowledge gaps. I was not disappointed! There are essays on people I never even heard of before, and now wish I could know so much more! Who knew there was a Czech theologian (Jan Hus) who wrote a devotional for women in the early 1400s? I certainly didn’t. Also, the very first essay I found to be a healthy challenge to Gustav Warnack’s conceptualization of mission (that ...“it must be a systematic work, preferable by an institution outside the church that consistently sends missionaries to previously unevangelized areas.” (p.12)) and his critique of early Reformation missional work (namely that there was none). Plus, while I had heard that Calvin had sent some missionaries to Brazil, I never knew there was so much drama with Villegagnon behind it all! The whole ordeal and everything leading up to it sounds like it would make for pretty crazy reality show or a great movie. The book touches on missions to a variety of locations, Kongo, China, Brazil, Latin America, and Europe itself, and is especially helpful in understanding the origins and philosophies of Reformed, Anabaptist, Jesuit, and Franciscan missiologies. It also gives light to the many complexities of mission work, dealing with politics, economy, culture, competing religion, and language barriers. Not all of the essays are created equal but I definitely got something from each one. Also, as a small disclaimer, the book may be a bit more of a laborious read for some. It deals with a great many events, places, and names that may be unfamiliar to someone not studied in Christian missional work (like myself). But working through such things can yield some ripe fruit. Being a collection of essays around a particular topic, it is a great book to pick up and set down again, not requiring large chunks of time to work through. In fact, it may be better read in several small intervals, one chapter per sitting, to properly digest each essays significance. I received this book for free from Lexham Press in exchange for an honest review, whether negative or positive. The views of this expressed in this review are entirely my own.
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Reviewed in the United States on July 16, 2021
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Jamey smith
Dallas, US
★★★★★ 5
Sturdy…quality finish
Color: Black
Super sturdy ..high quality metal
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Reviewed in the United States on March 16, 2026
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Megs
Chelsea, US
★★★★★ 5
Shelf
Directions are easy to understand.. you will need another person to help you but, was able to assemble by myself. Took me about 20 mins to put it together. Looks great.. very sturdy and lightweight.
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Reviewed in the United States on January 16, 2025
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Rodolfo Salazar Jr
Waukegan, US
★★★★★ 5
The shelf is sturdy and relatively easy to asseble.
The instructions were relatively easy to follow, and the assembly took about an hour to complete. The shelf is sturdy.
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Reviewed in the United States on December 28, 2025
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Sharon Willman
Pawtucket, US
★★★★★ 5
Great quality
Color: Black
Bought this for my son's room granted he is a 21 or old gamer but he loves it . Very good quality. Would definitely buy again.
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Reviewed in the United States on April 7, 2026

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