When Genius Failed：The Rise and Fall of Long Term Capital Management

图书标准信息

• 作者 Roger Lowenstein 著
• 出版社 HarperCollins UK
• 出版时间 2002-01
• ISBN 9781841155043
• 定价 81.80元
• 装帧 平装
• 开本 其他
• 纸张 胶版纸
• 页数 275页
• 正文语种 英语

【内容简介】

PickingupwhereLiar’sPokerleftoff(literally,inthebonddealer’sdesksofSalomonBrothers)thestoryofLong-TermCapitalManagementisofagroupofeliteinvestorswhobelievedtheycouldbeatthemarketand,likealchemists,createlimitlesswealthforthemselvesandtheirpartners.FoundedbyJohnMeriweather,anotoriouslyconfidentbonddealer,alongwithtwoNobelprizewinnersandafloorofWallStreet’sbrightestandbest,Long-TermCaptialManagementwasfromthebeginninghailedasanewgoldstandardininvesting.Itwastobethehedgefundtoendallotherhedgefunds:adiscreetprivateinvestmentclublimitedtothoserichenoughtoponyupmillions.Itbecamethebanks’ownfavouritefundandfromitsinceptionachievedarunofdizzyinglyspectacularreturns.NewinvestorsbargedeachotherasidetogettheirinvestmentmoneyintoLTCM’shands.ButascompetitorsbegantomimicMeriweather’sfund,healteredstrategytomaintainthefund’sperformance,leveragingcapitalwithcreditonascalenotfullyunderstoodandneverseenbefore.WhenthemarketsinIndonesia,SouthAmericaandRussiacrashedin1998LCTM’sinvestmentscrashedwiththemandmountainousdebtsaccumulated.Thefundwasinmelt-down,andthreateningtobringdownintoitstrillion-dollarblackholeahostoffinancialinstiutionsfromNewYorktoSwitzerland.It’sataleofvividcharacters,overwheeningambition,andperilousdramatold,inRogerLowenstein’shands,withbrilliantstyleandpanache.

【作者简介】

RogerLowensteinhasreportedfortheWallStreetJournalformorethanadecadeandisafrequentcontributortotheNewYorkTimesandTheNewRepublic.HeistheauthorofBuffet:theMakingofanAmericanCapitalist.