When Genius Failed: The Rise and Fall of Long-Term Capital Management
Before Bear’s Stern there had only been one other big bail-out of the modern era, and that was LTCM. I suppose I may think highly of this book because I finished it the day before the collapse of Bear’s Stern was made public. But either way the book is an excellent read though it may be too technical for some. It is an excellent recount of how some of the most promising “quants” on Wall St, including a couple Nobel Prize winners can go on to create a huge firm that fails even more spectacularly. An excellent read especially considering the current economic situation, highly recommended.




