Roger Lowenstein, author of the bestselling Buffett: The Making of an American Capitalist, reported for The Wall Street Journal for more than a decade, and wrote the Journal's stock market column "Heard on the Street" from 1989 to 1991 and the "Intrinsic Value" column from 1995 to 1997. He now writes a column in Smart Money magazine, and has written for The New York Times and The New Republic, among other publications. He has three children and lives in Westfield, New Jersey.
“A riveting account that reaches beyond the market landscape to say
something universal about risk and triumph, about hubris and
failure.”—The New York Times
“[Roger] Lowenstein has written a squalid and fascinating tale of
world-class greed and, above all, hubris.”—Business Week
“Compelling . . . The fund was long cloaked in secrecy, making the
story of its rise . . . and its ultimate destruction that much more
fascinating.”—The Washington Post
“Story-telling journalism at its best.”—The Economist
This is a marvelous, unauthorized chronicle of the rise, fall, and re-emergence of Long-Term Capital Management, a private hedge fund that in September 1998 benefited from a Federal Reserve-orchestrated $3.6 billion bailout. Based primarily on interviews with key players from the six banks that participated in the rescue of the firm, Lowenstein, who previously wrote Buffett: The Making of an American Capitalist, presents a well-crafted, easy-to-follow text. Readers will better appreciate the inner workings of the firm; the nuances of the individual partners; primary differences among investing in stocks, bonds, and derivatives; the fallacy of the efficient market hypothesis; the impact of computers on financial trading; and the importance of moderation. Recommended for both academic and public libraries. [Previewed in Prepub Alert, LJ 5/15/00.]DNorman B. Hutcherson, Kern Cty. Lib., Bakersfield, CA Copyright 2000 Cahners Business Information.
"A riveting account that reaches beyond the market landscape to say
something universal about risk and triumph, about hubris and
failure."-The New York Times
"[Roger] Lowenstein has written a squalid and fascinating tale of
world-class greed and, above all, hubris."-Business Week
"Compelling . . . The fund was long cloaked in secrecy, making the
story of its rise . . . and its ultimate destruction that much more
fascinating."-The Washington Post
"Story-telling journalism at its best."-The Economist
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