WhenGeniusFailed_TheRiseandFallofLong-Te.epub

Contents Title Page Dedication Epigraph Author’s Note and Acknowledgments Introduction THE RISE OF LONG-TERM CAPITAL MANAGEMENT 1 • Meriwether 2 • Hedge Fund 3 • On the Run 4 • Dear Investors 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 Notes About the Author Also by Roger Lowenstein Copyright To Maury Lasky and Jane Ruth Mairs Past may be prologue, but which past? —HENRY HU AUTHOR’S NOTE AND ACKNOWLEDGMENTS This history of Long-Term Capital Management is unauthorized. At the project’s outset, I was granted several formal interviews with two of the firm’s partners, Eric Rosenfeld and David Mullins, but such formal cooperation quickly ceased. Subsequent attempts to resume the interviews, and to gain formal access to John W. Meriwether, the founder, and others of the partners, proved fruitless. Nonetheless, over the course of my research, I repeatedly conveyed (via e-mail and telephone) seemingly endless lists of questions to Rosenfeld, and he generously consented to answer many of my quer......