5/9/2023 0 Comments When genius failed book![]() Risk is the occurrence of loss while uncertainty is the likelihood of the loss. ![]() The author mentions that investing involves both risk and uncertainty. ![]() The silver lining is that most outside investors had positive returns due to the forced repatriation of their capital at the end of 1997. This hedge fund ran into trouble in 1998 and required bailout from banks with help from Federal Reserve. The man who founded this firm is John Meriwether. It opened for business at the end of February 1994 and managed to recruit top traders and scholars including 2 Nobel Laureates in Economic Sciences (Robert Merton and Myron Scholes). Long-Term Capital Management is a hedge fund. Nonetheless, this history of Long-Term Capital Management is unauthorised. It shows how an investment firm (hedge fund) threatened the whole economy. ![]() When Genius Failed is about an investment firm known as Long-Term Capital Management. The chapters are divided into 2 parts: The Rise of Long-Term Capital Management (first 6 chapters) and The Fall of Long-Term Capital Management (4 chapters). When Genius Failed has an introduction, 10 chapters, an epilogue, and an afterword. Roger Lowenstein is an American author, journalist and columnist. Since I decided to read the recommended books in Richer, Wiser, Happier, I start with this book first. This book was recommended in Richer, Wiser, Happier. When Genius Failed is about the disgraced Long-Term Capital Management. ![]()
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