When Genius Failed: The Rise and fall of Long-Term Capital Management By Roger Lowenstein

When Genius Failed: The Rise and fall of Long-Term Capital Management By Roger Lowenstein Book Report/Review example
Masters
Book Report/Review
Finance & Accounting
Pages 6 (1506 words)
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Roger Lowenstein, an American financial writer and journalist was born in 1955 to Helen and Louis Lowenstein of Larchmont, New York. He studied at and graduated from Cornell University…

Introduction

Roger Lowenstein has reported for the Wall Street Journal for over a decade. He spent two years, 1989 to 1991 writing Heard on the Street column, 1989 to 1991. Roger Lowenstein who is also a director at Sequoia Fund is married to Judith Slovin. Louis Lowenstein, his father was a Columbia University law professor and an attorney who wrote articles and books critical of the American financial industry (Krastyo, 2012). In Roger Lowenstein’s book, When Genius Failed: The Rise and fall of Long-Term Capital Management, he draws to the new Afterword parallels to the recent witnessed financial crisis. I like the way Roger Lowenstein grasps the gripping roller coaster ride of the Long Term Capital Management. It is interesting how the author explains not only how funds were made and lost, but also how the culture of Wall Street itself, the personalities of the partners of the Long Term, and the arrogance of their mathematical certainties contributed to their rise and fall. The characters in this book in my opinion contributed to their own rise and fall just as the author has captured their contributions to the financial crisis. The Roger Lowenstein’s book is a story of the unprecedented move by the New York Fed and the implausible heights that were reached by the Long Term Capital Management, and its ultimate demise (Lowenstein, 2001). Roger Lowenstein's book illustrates the story of Long-Term Capital Management; a remarkable firm that got was set up by a cosmological cast of partners in 1994 in the United States. These partners brought about the skills in arbitrage in a modern finance as well as in upper sections of the finance profession. Robert C. ...
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