Gambler--The Rise and Fall of Long-Term Capital Management (LTCM)

Author: (American) Robert M. Loewenstein, translated by Meng Lihui
Publisher:
Publish Date: 2006-07-01
Features: In the mid-1990s, Long-Term Capital Management (LTCM), a dazzlingly successful hedge fund on Wall Street, achieved an incredible 285% return in just four years, creating a Wall Street legend. However, under the excessive manipulation of its brilliant traders, LTCM lost $4.5 billion in just two months and fell into ruin. This is a follow-up masterpiece by the author of the bestseller Buffett: The Making of an American Capitalist, who once again introduces the historical transformation of Wall Street. Together, two Nobel laureates in economics, a former Vice Chairman of the Federal Reserve, and one of Wall Street's most successful arbitrage traders bring to life one of the most gripping and tragic stories in financial market history. Long-Term Capital Management (LTCM): A hedge fund management company that survived for only five years but remains one of the most influential arbitrage funds to date; once a celebrated star on Wall Street, it ultimately triggered a disaster in the history of Wall Street; a group of speculative geniuses who once viewed the uncertain world as a cold-blooded gamble, but ultimately lost everything; a vivid case study of the capital market that is enough to make investors, fund managers, and regulatory authorities reflect. Together, two Nobel laureates in economics, a former Vice Chairman of the Federal Reserve, and one of Wall Street's most successful arbitrage traders bring to life one of the most gripping and tragic stories in financial market history. Long-Term Capital Management (LTCM): A hedge fund management company that survived for only five years but remains one of the most influential arbitrage funds to date; once a celebrated star on Wall Street, it ultimately triggered a disaster in the history of Wall Street; a group of speculative geniuses who once viewed the uncertain world as a cold-blooded gamble, but ultimately lost everything; a vivid case study of the capital market that is enough to make investors, fund managers, and regulatory authorities reflect.