Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It

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9780471498117: Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It

LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it. A brave and ambitious work, Inventing Money was written by leading financial journalist Nicholas Dunbar.

Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.

From the Back Cover:

LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in Spetember 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it.

"Inventing Money is a brave and ambitious book....a highly readable account of a financial drama of the highest kind."
The Independent

"Nicholas Dunbar's fascinating book is a well-writen chronicle of these events....a book to enjoy."
Times Higher Educational Supplement

"A substantial primer on the history of financial theory, not least because of Mr Dunbar's knack for colourful parallels that illuminate his arguments."
New York Times

"...not the last word on the subject, but it is a good start."
The Economist

"Dunbar's is....a highly readable introduction to the origins of alternative strategies employed throughout the industry today."
Portfolio International

"...a fascinating account of this spectacular episode."
CIB News

"A well researched book...very readable."
Investors Chronicle

"...a penetrating look at this enthralling story, stripping away the shroud of mystery surrounding the drama that rocked the financial world.... Dunbar tells the full story of this most public of financial disasters, unveiling previously undisclosed information, in captivating and accessible terms."
Euro Business

"...a fast moving and readable account that explains the development of finance over the centuries before recounting the brief but eventful life of LTCM. It gives a strong flavour of the people and the times, their resentments and motivations."
Risk

"...an essential insight into the development of financial markets and the history of man's attempt to predict investor behaviour.... It should be required reading for anyone considering investing in financial markets."
Allianz Global Risk Report

From the Inside Flap:

In the story of Long-Term Capital Management the facts speak for themselves.
* December 1992, former Salomon Brothers' Vice-Chairman John Meriwether teams up with two Nobel laureates - Myron Scholes and Robert Merton - together with his team of huge-earning arbitrage traders to found LTCM
* in both 1995 and 1996 LTCM returns net profits of over 40%
* in November 1997 LTCM hands back US$2.7 billion "excess capital" to investors
* in early 1998 LTCM increased its portfolio of assets to US$130 billion and commanded a derivatives portfolio with a notional value of US$1.25 trillion
* in August/September 1998 the total value of assets on the world's markets declines by US$3 trillion
* by September 1998 LTCM loses 90% of its value and has to be bailed out to the tune of US$3.6 billion
* from September 1998 to the present day, the ripples of this collapse continue to be felt across the globe
But try to look behind these bald facts, and the picture becomes shrouded in mystery. The diverse nature of LTCM's trading, which only allowed insiders to know the full picture, has confused many onlookers seeking to piece together the puzzle. It has been described as the equivalent to three blind men standing by an elephant: the first grabs the tail and thinks it's a snake, the second leans against it and thinks it's a wall and the third reaches out to the trunk and believes it to be a branch. In Inventing Money Nicholas Dunbar strips away the shroud of mystery and complexity to tell the complete story of this most public of financial disasters in a captivating and accessible style. Inventing Money is in equal measure the story of the strategy and people behind the collapse of one of the world's largest hedge funds, an explanation of how the modern world of finance functions and a walk through the historical development of this multi-billion dollar industry.

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Nicholas Dunbar
Editore: John Wiley and Sons Ltd, United Kingdom (2001)
ISBN 10: 0471498114 ISBN 13: 9780471498117
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Descrizione libro John Wiley and Sons Ltd, United Kingdom, 2001. Paperback. Condizione libro: New. Revised ed.. Language: English . Brand New Book. LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it. A brave and ambitious work, Inventing Money was written by leading financial journalist Nicholas Dunbar. Codice libro della libreria AAH9780471498117

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Nicholas Dunbar
Editore: John Wiley and Sons Ltd, United Kingdom (2001)
ISBN 10: 0471498114 ISBN 13: 9780471498117
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Descrizione libro John Wiley and Sons Ltd, United Kingdom, 2001. Paperback. Condizione libro: New. Revised ed.. Language: English . Brand New Book. LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it. A brave and ambitious work, Inventing Money was written by leading financial journalist Nicholas Dunbar. Codice libro della libreria AAH9780471498117

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Descrizione libro John Wiley & Sons, 2000. Paperback. Condizione libro: New. BRAND NEW ** SUPER FAST SHIPPING FROM UK WAREHOUSE ** 30 DAY MONEY BACK GUARANTEE. Codice libro della libreria mon0000248755

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Descrizione libro Wiley 2000-11-10, Chichester, 2000. paperback. Condizione libro: New. Codice libro della libreria 9780471498117

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Descrizione libro John Wiley and Sons Ltd. Paperback. Condizione libro: new. BRAND NEW, Inventing Money: Long-term Capital Management and the Search for Risk-free Profits, Nicholas Dunbar, LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it. A brave and ambitious work, Inventing Money was written by leading financial journalist Nicholas Dunbar. Codice libro della libreria B9780471498117

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Descrizione libro Condizione libro: New. Depending on your location, this item may ship from the US or UK. Codice libro della libreria 97804714981170000000

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Descrizione libro John Wiley and Sons Ltd, 2001. Condizione libro: New. LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. Num Pages: 280 pages, portraits. BIC Classification: KFFM. Category: (G) General (US: Trade); (P) Professional & Vocational. Dimension: 228 x 153 x 16. Weight in Grams: 390. . 2001. 1st Edition. Paperback. . . . . . Codice libro della libreria V9780471498117

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Descrizione libro John Wiley and Sons Ltd. Condizione libro: New. LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. Num Pages: 280 pages, portraits. BIC Classification: KFFM. Category: (G) General (US: Trade); (P) Professional & Vocational. Dimension: 228 x 153 x 16. Weight in Grams: 390. . 2001. 1st Edition. Paperback. . . . . Books ship from the US and Ireland. Codice libro della libreria V9780471498117

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Descrizione libro John Wiley and#38; Sons, 2000. PAP. Condizione libro: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Codice libro della libreria FW-9780471498117

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Descrizione libro Paperback. Condizione libro: New. Not Signed; LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. This is the sto. book. Codice libro della libreria ria9780471498117_rkm

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