Book description
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…
Why read it?
4 authors picked When Genius Failed as one of their favorite books. Why do they recommend it?
This fascinating read tells the story of the rise and then spectacular fall of the once celebrated hedge fund Long-Term Capital Management.
What made LTCM so attractive to Wall Street investors was its stable of "dream team" quants and financial minds, led by the laconic John Merriweather. Merriweather (featured in the opening Chapter of Liar's Poker) was a former Solomon Brothers bond-trading guru, who after leaving the firm amid a scandal managed to assemble a team of financial powerhouses that included two Nobel Laureates as well as a cadre of respected traders.
From 1993 to 1997 LTCM's returns were…
From Brad's list on what makes commodities traders tick.
A successful investor over the long run should always be worried about what can go wrong.
One of the greatest contributors to catastrophic loss is overconfidence and the belief that you can’t lose. This book offers a real-life story about some of the smartest, most resourced investors losing everything.
Hopefully it will instill the appreciation that it isn’t just about being a market genius but about recognizing that far too often unforeseen market events actually happen without warning.
From Alex's list on commonly overlooked investing core principles.
How financial rocket scientists were bested by financial markets. When Genius Failed is the rise and fall of the giant hedge fund Long-Term Capital Management. Its principals involved the best of Wall Street and two of the inventors of the Nobel-winning option price formula. Famed for its expertise in financial modelling, the firm leveraged its bets to make large returns but only for a while. It became unstuck when Russia defaulted on its debts in the summer of 1998 and was only saved from failure by a Fed bailout, which thereby set a bad precedent for the future: favoured Wall…
From Kevin's list on financial crises.
If you love When Genius Failed...
These Blue Mountains
A moving story of love, betrayal, and the enduring power of hope in the face of darkness.
German pianist Hedda Schlagel's world collapsed when her fiancé, Fritz, vanished after being sent to an enemy alien camp in the United States during the Great War. Fifteen years later, in 1932, Hedda…
The true story behind the rise and fall of Long Term Capital Management. Most people think it was simply about excess leverage. When you read Lowenstein’s account, you will see that there was a lot more to it than that. As a financial author, I admire authors who can take esoteric financial subject material and transform it into a comprehensible and entertaining narrative. In this respect, this book is similar to Michel Lewis’s The Big Short.
From Jack's list on traders.
If you love When Genius Failed...
These Blue Mountains
A moving story of love, betrayal, and the enduring power of hope in the face of darkness.
German pianist Hedda Schlagel's world collapsed when her fiancé, Fritz, vanished after being sent to an enemy alien camp in the United States during the Great War. Fifteen years later, in 1932, Hedda…
Want books like When Genius Failed?
Our community of 12,000+ authors has personally recommended 100 books like When Genius Failed.
Share your top 3 reads of 2025!
And get a beautiful page showing off your 3 favorite reads.
1,340
readers submitted
so far, will you?
📚 If you like When Genius Failed, you might also like...
Miami Beat
Jose Castillo is a cynical, wise-cracking Cuban-American who restores classic cars. He’s also a private eye whose sarcastic ways sometimes get him into trouble.
One day, in the process of installing a four-barrel carburetor on a 1965 Mustang, into his shop walks trouble—in the shape of a mysterious, beautiful woman…
Bruce Songs
Bruce Songs is an authoritative guide that offers an in-depth exploration of Bruce Springsteen's musical legacy. Covering Springsteen's entire discography, from "Greetings from Asbury Park, N.J." to "Only the Strong Survive", this unique book combines historical context, literary analysis, and meticulous research.
Unlike any other resource, it provides detailed analyses…
