When Genius Failed

When Genius Failed

andreyma Books Reviews

Review When Genius Failed: The Rise and Fall of Long-Term Capital Management



Author Roger Lowenstein’s “When Genius Failed: The Rise and Fall of Long-Term Capital Management” proves itself to be an eye-opener of a true tale of how long-term capital management soared in power; only to later be the cause of its own downfall; resulting in the collapse of Wall Street. Highly regarded by BusinessWeek as one of the year’s best books, Lowenstein’s “When Genius Failed” truly sheds light on the fascinating phenomenon of greed and hubris. With a large assortment of financial books that render every genius and market wizard ‘untouchable,’ Lowenstein counteracts it with “When Genius Failed,” by pointing out that even masterminds can commit mistakes, and the only biggest mistake of all is not admitting or holding themselves accountable for it. A phenomenally well-written book, “When Genius Failed,” details the dangers and weaknesses of the human character. 

About the Author

Roger Lowenstein (born in 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, N.Y. Lowenstein is married to Judith Slovin.

He is also a director of the Sequoia Fund. 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, America’s Bank: The Epic Struggle to Create the Federal Reserve (The Penguin Press), was released on October 20, 2015.

Table of Contents

  • Title Page
  • Copyright
  • Epigraph
  • Author’s Note and Acknowledgements
  • Introduction
    • The Rise of Long-Term Capital Management
      • 1 – Meriwether
      • 2 – Hedge Fund
      • 3 – On the Run
      • 4 – Dear Investor
      • 5 – Tug-of-War 
      • 6 – A Nobel Prize
    • The Fall of Long-Term Capital Management
      • 7 – Bank of Volatility
      • 8 – The Fall
      • 9 – The Human Factor
      • 10 – At the Fed
      • Epilogue
      • Afterword, 2010
      • Dedication
  • Notes
  • Also by Roger Lowenstein
  • About the Author