Extended Audio Sample

Download When Genius Failed Audiobook

Extended Audio Sample When Genius Failed, by Roger Lowenstein Click for printable size audiobook cover
4 out of 54 out of 54 out of 54 out of 54 out of 5 4.00 (4,977 ratings) (rate this audio book) Author: Roger Lowenstein Narrator: Roger Lowenstein Publisher: Penguin Random House Format: Unabridged Audiobook Delivery: Instant Download Audio Length: Release Date:
Regular Price: $14.96 Download
— or —
FlexPass™ Price: $14.95$5.95$5.95 for new members!
Download learn more )

In this business classic—now with a new afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of long-term capital management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of long-term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall.

When it was founded in 1993, long-term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored.

Download and start listening now!

BK_RHAU_000060

Listener Opinions

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 by Bijo Mani | 2/20/2014

    " An excellent read for any one who is involved in finance or financial markets... "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 by Alex Rusnak | 2/18/2014

    " A very important book that has to be re-read from time to time. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 by Jeremy | 2/5/2014

    " A good reminder of the paradigm that LTCM was, especially when so much history of derivatives and leverage occurred nearly a decade after the collapse of LTCM and many of the people involved were still creating or managing the banks in 2008. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 by Christian | 2/3/2014

    " It was intriguing to read the full story of this hedge fund, the good times and the bad. Particularly the reasons why it ended up failing. "

  • > Show All
Write a Review
What is FlexPass?
  • Your first audiobook is just $5.95
  • Over 90% are at or below $12.95
  • "LOVE IT" guarantee
  • No time limits or expirations