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 enlarge | Author: Roger Lowenstein
Publisher: Random House Trade Paperbacks
Category: Book
List Price: $14.95
Buy New: $7.77
You Save: $7.18 (48%)
New (44) Used (36) from $7.50
Rating:  213 reviews
Sales Rank: 1149
Media: Paperback
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 0.4
Dimensions (in): 8 x 5.6 x 0.6
ISBN: 0375758259
Dewey Decimal Number: 332
EAN: 9780375758256
ASIN: 0375758259
Publication Date: October 9, 2001
Availability: Usually ships in 1-2 business days
Shipping: Expedited shipping available
Condition: Brand New Book!
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| Customer Reviews:
 Why Hubris Failed February 11, 2008
1 out of 1 found this review helpful
I managed to finish this book in two days: it's that good. Particularly the first half is very hard to put down. It is right up there with "Liar's Poker" and "Barbarians at the Gate" in terms of gripping storytelling. The author presents a very convincing case study of a briliant group of individuals who seemed blind to the possibility of failure, so much so that they continually plowed their own savings and bonuses (and then some) into shrinking opportunities all the while pushing out their original investors. There are probably half a dozen ways where these guys went wrong (trusting too much in the differential equations they used to model the stock market was only one of them) but the author lets you make up your own mind about these guys. He never comes off as judgemental or overly critical of them.
 When Math Failed. February 2, 2008
The death of Longterm Capital Management (LTCM) is one of the biggest collapses in modern financial history. So big, the Fed stepped in and made a number of major banks pony up serious dough to cover LTCMs loses so that the world financial markets didn't tank. This book is the story of the very smart dudes (multiple noble prize winners, and a bunch of Phds) who made the classic finance mistake of thinking that markets would behave as the models said they would. Well, turns out, markets don't always do what they're told, and if your leveraged to the tune of billions of dollars, you can get yourself in a world of trouble when things go south.
This is a fast read and actually pretty educational if you want to get a sense of how the highly quantitative hedge funds work. Definitely worth checking out if you're a business book geek like me.
Shakes confidence in revered institutions January 28, 2008
In addition to great entertainment, this story helps the novice investor moderate and perhaps avoid investement fad.
When Genius Failed January 23, 2008
This book is a must read for anyone who is interested in understanding how wallstreet functions.
 Here we go again! January 7, 2008
1 out of 1 found this review helpful
Interesting read...After this debacle, you'd think that the "pros" on Wall Street would've learned something. But all you have to do is look at the current mortgage/credit mess to realize that they haven't. I guess there will always be bubbles and bubbles always burst!
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