When Genius Failed

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


When Genius Failed


Business Week names this book as one of the best books. Written by Roger Lowenstein, this finance classic tells the tale of Long-Term and its Cinderella-run once upon a time. Lowenstein clearly depicted the rise and fall of Long-Term and how Wall Street turned it from magic to tragic.

Lowenstein made the book more like a thrilling novel than a finance book as he narrated the Long-Term Capital Management (LTCM) in full detail. It gives readers the lesson about an entrepreneur’s hubris and how it destroys everything that you have worked for in a snap. Lowenstein added an entertaining value to his writing by using a lucid writing style and his knack for humor and amusement.

If you are someone who wants to understand more about LTCM as a hedge fund, do not miss reading this book. 

About the Author

Robert Lowenstein was a reporter for The Wall Street Journal for more than ten years. He was the brilliant mind behind the bestseller, Buffet: The making of an American Capitalist, along with several market columns. He was a contributor for several periodicals and magazines, including The New York Times. Today, he still works as a columnist in Smart Money magazine. 

Table of Contents

The tale started by introducing John Meriwether, the eventual head of LCTM and ended with comedy and drama. This was shown when Meriwether got a shot at redemption after failing horrendously. The book is divided into two primary topics and contains the following details:

Author’s Note and Acknowledgments


The Rise of Long-Term Capital Management

1 Meriwether

2 Hedge Fund

3 On the Run

4 Dear Investors

5 Tug-of-War

6 A Nobel Prize

The Fall of Long-Term Capital Management

7 Bank of Volatility

8 The Fall

9 The Human Factor

10 At the Fed




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