When Genius Failed: The Rise and Fall of Long-Term Capital Management
"When Genius Failed: The Rise and Fall of Long-Term Capital Management" by Roger Lowenstein chronicles the dramatic journey of a hedge fund that, led by Wall Street trader John Meriwether and a group of elite academics, rose to extraordinary heights only to collapse spectacularly due to overconfidence in their risk models and excessive leverage, requiring a Federal Reserve-brokered bailout.
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