I was definitely educated on the terrible harm overconfidence and a coincidentally favorable market can wreak on a portfolio. Excellent story, kept me listening the whole time.
A worthy successor to Lewis's Liar's Poker, following the later story of John Meriwether's big fall. Gives a good look inside the hedge fund industry.
I teach Business, Economics, and English at a university in Tokyo. My interests are in politics, economics, and philosophy. I hold a BA in English Literature, and an MA in Political Science.
I listened to this book as I drove from DC to LA. It only got me to Alabama. LOL!!! It was a really good book though. It's telling about the greed of the financial industry. It reminds us that Wall Street is a smarter man's Vegas with better odds. For all the laissez faire capitalist out there, this book is a wake-up call. There are too many lives tied into the money on Wall Street for it to go loosely regulated.
You don't need to know the Black Scholes options pricing model to enjoy this book: The author makes very complex financial history clear and understandable -- no small accomplishment.
Well read, very interesting, very entertaining. You will like this book even if you have very little knowledge of finance as long as you have an interest in the human condition. Get it.
This is a fantastic book that touches on every aspect of this intricate event. It presents the technical details at an appropriate level and offers insight into the personal motivations of the key players. To top it off, Lowenstein, through his tone in narrating the book, enlivens the story by subtly interjecting his own perspective.