Fast Delivery Nationwide - Free shipping on Rs 5000
Call us: +92 324 3256362
Sign in to continue your journey with Bookstora.
Please enter your details
Create an account to track your orders, save your favorite books, and get personalized recommendations.
Fill in the details below to get started
By Roger Lowenstein
This gripping financial thriller chronicles the spectacular rise and ruin of Long-Term Capital Management (LTCM), a Wall Street hedge fund helmed by arbitrage legends and Nobel Prize-winning economists. They believed they had found a foolproof mathematical formula to strip risk from the markets and ensure permanent profits.
For a time, the formula worked brilliantly, netting billions. But in 1998, an unexpected financial crisis in Russia shattered their models, exposing the dangers of extreme leverage and intellectual arrogance. Roger Lowenstein masterfully details how these financial "geniuses" nearly dragged the entire global banking system down with them, forcing a historic, multi-billion-dollar bailout by the Federal Reserve.
Key Takeaways:
The Limits of Models: A cautionary tale proving that mathematical formulas cannot perfectly predict human behavior or unprecedented market panics.
The Danger of Leverage: How borrowing massive amounts of capital can turn a minor miscalculation into a catastrophic collapse.
A Financial Page-Turner: It reads like a thriller, offering a fascinating look at the hubris of Wall Street and the fragility of the global financial system.
"There is nothing like a fall to disabuse the mind of its illusions of infallibility."
Category: Novel
Format: Physical Book
Availability: In Stock