圖書標籤: 金融 Finance 對衝基金 Hedge_Fund 經濟學 投資 基金 商業經典
发表于2024-09-27
When Genius Failed pdf epub mobi txt 電子書 下載 2024
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.
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 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.
He has three children and lives in Westfield, New Jersey.
LTCM死掉瞭,隻是曆史的必然,不要過分苛責該公司的每一個管理者(除瞭小羅特莫頓)
評分哪怕是最頂尖的公司和最頂尖的大腦也無法忽視風險控製,無法逃脫人性弱點,而前者可以讓後者極端放大。又一堂生動的風險控製課。。。
評分An in-depth review of LTCM. BTW: I'm sure Roger is a successful writer but he needs to stay away from reading audiobooks...
評分LGBT對對衝基金好奇的可以看這個。meriwether老兄的經曆說明一越有纔華的人越容易自負;二你倒黴一次可能緊接著會倒黴第二次甚至第三次。
評分An in-depth review of LTCM. BTW: I'm sure Roger is a successful writer but he needs to stay away from reading audiobooks...
索罗斯曾经说过,凡是人类构建的东西,都有着天然的巨大缺陷。尤其是金融市场,最易出现崩溃。这次美国次贷危机,给他的这一认识提供了最新的佐证,华尔街的最大清算银行贝尔斯登在两周内沦陷,当年每股数百美元的股价今天只能以2美元卖给了摩根,因为摩根认为他的净资产值...
評分每一本谈论长期资本公司的著作,都会花些篇幅介绍它的全明星阵容:所罗门兄弟公司债券套利业务负责人梅里韦瑟及其团队,因BS模型获得诺奖的墨顿与斯科尔斯,美联储副主席马林斯…人们称之为全球“每一平方厘米智力密度最高的地方”。 长期资本公司构建了精密的定价模型,采用高...
評分When Genius Failed pdf epub mobi txt 電子書 下載 2024