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Chapter Overview
Chapter 1: AudiobookHub Recommendation
Chapter 2: Long-Term Capital Management was a massive hedge fund that profited via arbitrage strategies worldwide.
Chapter 3: LTCM borrowed aggressively to amplify and maximize its profits.
Chapter 4: LTCM infused academic expertise into investment banking.
Chapter 5: Hedge funds boomed throughout the 1990s, yet LTCM surpassed them all in its success by far.
Chapter 6: LTCM’s models urged them to pursue risk during the 1997 Asian crisis with conviction.
Chapter 7: The true decline started when the models failed.
Chapter 8: LTCM’s final weeks of independence were defined by events that, by LTCM’s reckoning, seemed nearly impossible.
Chapter 9: Ultimately, fears of a broad financial crisis after LTCM’s potential collapse prompted a coordinated effort to rescue the fund entirely.
Description
When Genius Failed (2001) follows the rise and fall of Long-Term Capital Management, the world’s largest ever investment fund. The book reveals uncomfortable truths about the nature of investment and the fragility of the models we use to assess risk.
Who Should Listen
- Anyone interested or working in investment banking
- Anyone interested in risk calculation
- Anyone thinking about investing in a hedge fund