When Genius Failed

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2.1

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Trust Score

2.2

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Overall

one more for collection

Powerful people with lots of money should take note that it is always smart to use a bit of common sense and conservatism along the way

Trust Score

5.0

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Interesting info

Always had an interest in books like these. This was the first finance piece I've read since college and it was a blast. This book really helped me understand what's really going on beyond the academia that is shoved down our throats. Wonderful read.

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2.2

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fantastic read

Loved this book. Really simple, really straight forward understanding of risk.

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1.0

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Excellent book about risk

This book should be a must read in all business schools and it should come with the welcome package when you are hired as a financial professional.

Reading this book, you realise that arrogance can kill anyone in the financial markets even the most brilliant minds, even Nobel prize professors! Also, common sense is not so common.

It's an easy read, really entertaining book.

Trust Score

7.7

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always been a fan

Haven't been dissapointed by this at all. Plenty of great examples of how it's all done. bravo

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1.0

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Genius Book

Wow what can I say? The author really does a spectacular job telling the story of the ironically named Long Term Capital Management. LTCM was the all-star hedge fund that boasted heavyweights from the street and even Nobel Prize winners doomed to bust more than $2 billion. The journalistic style of the book is perfect at conveying the hubris and brash personalities of the group. It seems the fund started off on the right track but begins feeling the pressure to perform and maintain stellar returns for their clients, which leads them into increasingly dodgy territory and riskier trades. A revelation to me was the fund's major advantage was not so much their technology, skill, or brainpower, it was their prestige. By amassing such a wealth of talent they were able to charge more in fees and demand larger investments. At times it seems they almost "strong-armed" their clients into getting their way. All in all a fascinating book well worth the read.

Trust Score

3.1

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Just a great book.

If your in the finance or trading industry, this book is almost a must-read. A story of the demise of Long Term Capital Management, a fund so large many thought it was impossible for the fund to fail. That it did! Good story.

Trust Score

1.5

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They can't teach you this in a classroom

When Genius Failed is a perfect story and one of the more exciting pieces of financial literature available today. If you're not familiar with John Meriwether then you should learn about him and his journey quickly. The book takes you on a roller coaster ride about a fund he put together called Long Term Capital Management.

Overall the book will leave you wondering how the hell something like this could happen, but it teaches you something more about the financial world in general - you don't need a PHD to make money or lose money.

Powerful people with lots of money should take note that it is always smart to use a bit of common sense and conservatism along the way. I'd recommend this book to just about anyone whether you love or hate finance and the way it's portrayed.

Trust Score

9.0

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Overall