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When Genius Failed
''When Genius Failed: The Rise and Fall of Long-Term Capital Management'' is a book by Roger Lowenstein published by Random House on October 9, 2000. The book puts on an unauthorized account of the creation, early success, abrupt collapse, and rushed bailout of Long-Term Capital Management (LTCM). LTCM was a tightly-held American hedge fund founded in 1993 which commanded more than $100 billion in assets at its height, then collapsed abruptly in August/September 1998. Prompted by deep concerns about LTCM's thousands of derivative contracts, in order to avoid a panic by banks and investors worldwide, the Federal Reserve Bank of New York stepped in to organize a bailout with the various major banks at risk. The book's account is largely based on interviews conducted with former employees of LTCM, the six primary banks involved in the rescue, and the Federal Reserve, as well as informal interactions by phone and e-mail with Eric Rosenfeld, one of LTCM's founding partners. As of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roger Lowenstein
Roger Lowenstein (born 1954) is an American financial journalist and writer. He graduated from Cornell University and reported for ''The Wall Street Journal'' for more than a decade, including two years writing its '' Heard on the Street'' column, 1989 to 1991. Born in 1954, he is the son of Helen and Louis Lowenstein of Larchmont, New York. Lowenstein is married to Judith Slovin. He is also a director of Sequoia Fund. In 2016, he joined the board of trustees of Lesley University. His father, the late Louis Lowenstein, was an attorney and Columbia University law professor who wrote books and articles critical of the American financial industry. Roger Lowenstein's latest book, ''Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War'', was released on March 8, 2022. Journalism Lowenstein has published seven books, three of them ''New York Times'' bestsellers. In addition, he has written for many publications, including ''The Wall Street Journal'', '' Smart M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Meriwether
John William Meriwether (born August 10, 1947) is an American hedge fund executive. Education Meriwether earned an undergraduate degree from Northwestern University and an MBA degree from the University of Chicago Booth School of Business. Salomon Brothers After graduation, Meriwether moved to New York City, where he worked as a bond trader at Salomon Brothers. At Salomon, Meriwether rose to become the head of the domestic fixed income arbitrage group in the early 1980s and vice-chairman of the company in 1988. In 1991, Salomon was caught in a Treasury securities trading scandal perpetrated by a Meriwether subordinate, Paul Mozer. Meriwether was assessed $50,000 in civil penalties. LTCM Meriwether founded the Long-Term Capital Management hedge fund in Greenwich, Connecticut in 1994. Long-Term Capital Management collapsed in 1998. The books '' When Genius Failed: The Rise and Fall of Long-Term Capital Management'' and ''Inventing Money: The Story of Long-Term Capital Management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Books About Traders
A book is a medium for recording information in the form of writing or images, typically composed of many pages (made of papyrus, parchment, vellum, or paper) bound together and protected by a cover. The technical term for this physical arrangement is '' codex'' (plural, ''codices''). In the history of hand-held physical supports for extended written compositions or records, the codex replaces its predecessor, the scroll. A single sheet in a codex is a leaf and each side of a leaf is a page. As an intellectual object, a book is prototypically a composition of such great length that it takes a considerable investment of time to compose and still considered as an investment of time to read. In a restricted sense, a book is a self-sufficient section or part of a longer composition, a usage reflecting that, in antiquity, long works had to be written on several scrolls and each scroll had to be identified by the book it contained. Each part of Aristotle's ''Physics'' is called a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jon Corzine
Jon Stevens Corzine ( ; born January 1, 1947) is an American financial executive and retired politician who served as a United States Senator from New Jersey from 2001 to 2006 and the 54th governor of New Jersey from 2006 to 2010. Corzine ran for a second term as governor but lost to Republican Chris Christie. A member of the Democratic Party, he previously worked at Goldman Sachs; after leaving politics, he was CEO of MF Global from 2010 until its collapse in 2011. Education and early business career Corzine was born in Taylorville, Illinois, the son of Nancy June (née Hedrick) and Roy Allen Corzine, Jr. His grandfather Roy A. Corzine, Sr. served in the Illinois General Assembly. He grew up on a small family farm in Willey Station, Illinois near Taylorville. After completing high school at Taylorville High School, where he had been the football quarterback and basketball captain, he attended the University of Illinois at Urbana–Champaign, where he was a member of the Phi De ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victor Haghani
Victor Haghani (born c. 1962) is an Iranian-American founder of Elm Wealth, a research-driven wealth advisor and manager. Elm uses index-tracking funds to invest across the largest asset classes and tries to give its clients broad exposure to global economic growth at the lowest possible cost. Haghani was one of the founding partners of Long-Term Capital Management (LTCM), a hedge fund which collapsed in 1998 and was eventually recapitalized and restructured by a consortium of leading banks. The son of an Iranian international trader of a Sephardic Jewish family, Haghani graduated from the London School of Economics (LSE). He was a founding partner of LTCM and after the liquidation of LTCM became a founding partner of JWM Partners which managed a successor fund to LTCM. Education Victor Haghani graduated from the London School of Economics (LSE) in 1984, where he received a B.Sc. degree in Economics. He has also taught at the LSE, where he is a Senior Research Associate in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Myron Scholes
Myron Samuel Scholes ( ; born July 1, 1941) is a Canadian-American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model. Scholes is currently the chairman of the Board of Economic Advisers of Stamos Capital Partners. Previously he served as the chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors board of directors, American Century Mutual Fund board of directors and the Cutwater Advisory Board. He was a principal and limited partner at Long-Term Capital Management and a managing director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, senior research fellow at the Hoover Institution, director of the Center for Research in Security Prices, and professor of finance at MIT's Sloan School of Management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert C
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honour, praise, renown" and ''berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin. It is also in use as a surname. Another commonly used form of the name is Rupert. After becoming widely used in Continental Europe it entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta. The Italian, Portuguese, and Spanish form is Roberto. Robert is also a common name in many Germanic languages, including English, German, Dutch, Norwegian, Swedish, Scots, Danish, and Icelandic. It can be use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Larry Hilibrand
Larry is a masculine given name in English, derived from Lawrence or Laurence. It can be a shortened form of those names. Larry may refer to the following: People Arts and entertainment * Larry D. Alexander, American artist/writer *Larry Boone, American country singer * Larry Collins, American musician, member of the rockabilly sibling duo The Collins Kids *Larry David (born 1947), Emmy-winning American actor, writer, comedian, producer and film director *Larry Emdur, Australian TV host *Larry Feign, American cartoonist working in Hong Kong *Larry Fine, of the Three Stooges *Larry Gates, American actor *Larry Gatlin, American country singer *Larry Gelbart (1928–2009), American screenwriter, playwright, director and author *Larry Graham, founder of American funk band Graham Central Station *Larry Hagman, American actor, best known for the TV series ''I Dream of Jeannie'' and ''Dallas'' *Larry Henley (1937–2014), American singer and songwriter, member of The Newbeats *Larry Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
In economics and finance, arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophy, philosophical theory, theories to the focused study of minutiae within specific Market (economics), markets, macroeconomics, macroeconomic analysis, microeconomics, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
