There are a few histories of Wall Street that really stand out. The others are mostly written by Michael Lewis. So that puts this book in rarified company.
The humanization of the two protagonists, John Meriwether and Larry Hillebrand.
The final defeat of Hillebrand, when he's forced to finally open his books for the world to see, was moving. He's not a likable character, but you really feel sympathy for him in that moment.
Working mom (HRMgr/healthcare) in western Michigan. INTJ. Red Vines. Disneyfreak.
What to make of the fact that the dress rehearsal for the sub-prime bailout occurred in September 1998? What did we know then that we did not learn from? How can we prevent this from recurring or are we simply doomed to continue this? So many questions ...
Roger Lowenstein narrates his own book. I'm from the midwest and so, to me, he sounds distinctly northeastern. It takes a bit of getting used to, but after a couple of chapters, I was fine.
The story was a bit overwrought, especially in the middle. But I was very engaged in the early beginnings of the creation of something so spectacularly successful as Long Term Capital Management, the incredibly quick demise, and whether we learned anything from the whole thing.
Lowenstein does a fine job describing some fairly complex concepts such as bond arbitrage, volatility, and leverage. It helped me grasp many of the underpinnings. The characters were incredibly interesting to me - each genius and mad in their own individual way. They seemed to simultaneously bring out the best and the worst in each other.
This book is especially interesting in light of the subprime and global financial crises of 2008-2010. I can't help feeling as though we failed to heed a lesson.
I would only recommend this too people who are interested in the details of what happens on Wall Street. The reading of this book was well done, and the story was fine, but it was too narrowly focused for me to enjoy as much as I have other books about Wall Street.
Learning about arbitrage, leverage, and credit during market turmoil.
When LTCM had made obscene returns and started investing in areas they had no business touching.
No, I had to make myself finish it.
My reviews are honest. No sugar coating here.
It's very hard to write a review on financial books because it is very technical, factual, and to the point. In many ways, it is a dull read, as if you are in school, cracking open an algebra book, trying to solve an equation.
I like these kinds of reads because I enjoy listening what went on in Wall Street and beyond. There are times where you need to take a break from fiction and get something that makes sense with numbers.
This title meets my number fetish and put this book on top of my list for economy status at the time.
The author's voice is a bit desirable because instead of a steady voice, you feel like you are going on a roller coaster ride, where the pitch of the reader's voice goes up and down, as if you are driving uphill and then all of a sudden, you are speeding down the hill and then up again.
Maybe the publisher couldn't afford a professional narrator.
They should re-record this title with an new reader, but if you are thinking about buying this book, you are not interested in the storytelling.
What a mess!
John William Meriwether was my favorite character because his portrayl within the book as the most sensitive and rife with Greek tragedy. (For those options enthusiasts reading this, the pun was absolutely intended!)
The reading was crisp on the ear and very easy to listen to.
Um, it's about bankers. I cheered when they went down in flames!
Superb story telling. If you are at all interested in the saga of Long-Term Capital Management, download this and give it a listen. I loved it!
The story of LTCM is fascinating, especially for financial scandal junkies who have plowed through books on Enron, Madoff etc. This story is well paced and easy to follow - no small feat given the dry nature of the subject matter HOWEVER, this audiobook could have been greatly improved by a professional reader. Having the writer read it does not do it justice. He has a limited vocal range. The publisher would be wise to re-issue this recording with another narrator.
At this point in time with more than a decade past since the failure of Long Term Capital Managment, this book reads more like a historical account of what happened. There are also a great many timeless observations that can also be noted. Sadly many of these have been repeated since.
Recommended for anyone in or attracted to Wall Street to help them avoid the same pitfalls.
Some authors are great narrators...this guy is just passable. His voice is gruff and nasal and does not hold attention.
The book itself is easily worth four stars; both for content and prose. Unfortunately however, the narration was so poor that I had to abandon the audio adaptation after the first few chapters. I ended up reading the hard copy and thoroughly enjoyed it. It's a great follow up to Michael Lewis' "Liar's Poker".
if you ever want to hear what a book read by jim rome (the sports head) would sound like here is your chance. it is so painful to listen to i had to give up which is a shame because the book is pretty well written. it is a great story especially given what has happened to the global financial markets over the last several years. shame more of the market regulators and banks didn't learn anything from the experience