Book: When Genius Failed

When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein

this is another great book i’ve been wanting to listen to for a long time … the rise and the fall of LTCM.   ever since debating about the bail-out with my friend Richard Voon, i’ve been fascinated with how so many smart people could create a financial model that produced such staggering losses.

it is simply amazing.  essentially, they were fooled by randomness a bit.   

Lowenstein is a very good author who seems very fair and keeps the saga fast-moving while still going into a great deal of detail.