“When Genius Failed”, Lowenstein. This is about the 1998 Long-Term Capital Management (LTCM) implosion and how it was a precursor, albeit on a much smaller scale, to what is happening now in the credit markets.
LTCM had two Nobel Prize Laureates on their staff, and also counted some of Wall Street’s “Best and Brightest” among their members.
Great read, if for no other reason than to watch what happens when you think you’re too smart too fail. Also, the almost religious reliance on their risk management models is eerily similar to that shown by today’s Wall Street banks.
My sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
My sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
My sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
My sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
My sister got me The Ascent of Money by Niall Ferguson for Xmas and I thoroughly enjoyed it. A history of money right up until about summer 2008. It talks a bit about the early stages of the financial crisis, but the more interesting parts are the historical times, such as right before WWI. Overall an entertaining read, but probably won’t tell you how to invest and doesn’t have specific advice about how to navigate today’s troubled waters. But for those of you with an interest in history, this was a good read.
