When Genius Failed

When Genius Failed tells the dramatic true story of Long-Term Capital Management, the hedge fund run by brilliant minds whose confidence nearly destabilized the global financial system. Roger Lowenstein crafts a narrative that is both intellectually rigorous and suspenseful. The book explains how sophisticated financial models, Nobel Prize winning theories, and extreme leverage combined to create catastrophic risk. As markets shifted unexpectedly, the very tools designed to manage uncertainty amplified it instead. Lowenstein humanizes the story, revealing how overconfidence, groupthink, and misplaced faith in models blinded even the smartest individuals. The collapse becomes not just a financial lesson, but a psychological one. This book is essential for readers interested in finance, risk, and human behavior. It serves as a powerful reminder that intelligence alone is no substitute for humility and caution.

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