When Genius Failed: The Rise and Fall of Long Term Capital Management (eBook, ePUB)
| Preis: | 9.62 EUR* (inkl. MWST zzgl. Versand - Preis kann jetzt höher sein!) |
| Versand: | 0.00 EUR Versandkostenfrei innerhalb von Deutschland |
| Partner: | buecher.de |
| Hersteller: | HarperCollins Publishers (Lowenstein, Roger) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Charts are best viewed on a tablet.Picking up where Liar´s Poker left off (literally, in the bond dealer´s desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners.Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street´s brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a discreet private investment club limited to those rich enough to pony up millions.It became the banks´ own favourite fund and from its inception achieved a run of dizzyingly spectacular returns. New investors barged each other aside to get their investment money into LTCM´s hands. But as competitors began to mimic Meriweather´s fund, he altered strategy to maintain the fund´s performance, leveraging capital with credit on a scale not fully understood and never seen before.When the markets in Indonesia, South America and Russia crashed in 1998 LCTM´s investments crashed with them and mountainous debts accumulated. The fund was in melt-down, and threatening to bring down into its trillion-dollar black hole a host of financial instiutions from New York to Switzerland. It´s a tale of vivid characters, overwheening ambition, and perilous drama told, in Roger Lowenstein´s hands, with brilliant style and panache.
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