When Genius Failed

Name: When Genius Failed
Brand: Random House Inc
SKU: 9780375758256
Price: 6534 HUF
Availability: InStock

The Rise and Fall of Long-Term Capital Management

Szerző: Roger Lowenstein

Nyelv:

Kötés: Puha kötésű

Kiadó: Random House Inc

Elérhetőség: Beszállítói készleten

Küldés 9-15 napon belül

6 534 Ft

John Meriwether, a famously successful Wall Street trader, spent the 1980s as a partner at Salomon B...

Információk a könyvről

Szerző

Roger Lowenstein

Nyelv

Angol

Kötés

Könyv - Puha kötésű

Kiadva

2001

oldal

304

EAN

9780375758256

ISBN

0375758259

Enbook ID

10986200

Kiadó

Random House Inc

Súly

249

Méretek

133 x 203 x 19

Teljes leírás

John Meriwether, a famously successful Wall Street trader, spent the 1980s as a partner at Salomon Brothers, establishing the best--and the brainiest--bond arbitrage group in the world. A mysterious and shy midwesterner, he knitted together a group of Ph.D.-certified arbitrageurs who rewarded him with filial devotion and fabulous profits. Then, in 1991, in the wake of a scandal involving one of his traders, Meriwether abruptly resigned. For two years, his fiercely loyal team--convinced that the chief had been unfairly victimized--plotted their boss's return. Then, in 1993, Meriwether made a historic offer. He gathered together his former disciples and a handful of supereconomists from academia and proposed that they become partners in a new hedge fund different from any Wall Street had ever seen. And so Long-Term Capital Management was born. In a decade that had seen the longest and most rewarding bull market in history, hedge funds were the ne plus ultra of investments: discreet, private clubs limited to those rich enough to pony up millions. They promised that the investors' money would be placed in a variety of trades simultaneously--a "hedging" strategy designed to minimize the possibility of loss. At Long-Term, Meriwether & Co. truly believed that their finely tuned computer models had tamed the genie of risk, and would allow them to bet on the future with near mathematical certainty. And thanks to their cast--which included a pair of future Nobel Prize winners--investors believed them. From the moment Long-Term opened their offices in posh Greenwich, Connecticut, miles from the pandemonium of Wall Street, it was clear that this would be a hedge fund apart from all others.Though they viewed the big Wall Street investment banks with disdain, so great was Long-Term's aura that these very banks lined up to provide the firm with financing, and on the very sweetest of terms. So self-certain were Long-Term's traders that they borrowed with little

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When Genius Failed

The Rise and Fall of Long-Term Capital Management

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