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Profil für Michael E. Strupp > Rezensionen

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Beiträge von Michael E. Strupp
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Rezensionen verfasst von
Michael E. Strupp (Chicago, IL)
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When Genius Failed: The Rise and Fall of Long-Term Capital Management
When Genius Failed: The Rise and Fall of Long-Term Capital Management
von Roger Lowenstein
  Gebundene Ausgabe

2 von 2 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen "The Barbarians At The Gate" For The 1990s, 18. September 2000
This book reads like a horror story: we know John Merriwether and his arbitrageurs shouldn't ratchet up their leverage again and again but we can't tear our eyes away when they do it. Already knowing what ultimately happens to the Fund does nothing to alleviate the suspense and trepidation as a wave of panics begins to richocet from seemingly unrelated financial markets to trigger a worldwide financial crisis with LTCM square in the middle. Lowenstein's detailed description of the daily losses the Fund experienced will take your breath away.
All in all, this book provides a vivid portrait of how sensible, seemingly "safe" investment strategies can go terribly wrong when greed overcomes prudence and positions are pushed to the limit. Yet LTCM is not the only one who comes off bad here: Goldman Sachs is portrayed as shameless front-runners, Alan Greenspan looks like he is more out of touch than Ronald Reagan and Wall Street brokers and bankers appear as rational as rabbits in heat as they fall over themselves to extend credit to LTCM without charging hardly any margin whatsoever. This "easy credit" is what let LTCM leverage their assets up to an incredible 100X by the time of their downfall.
I promise you this: "When Genius Failed" will become "The Barbarians At The Gate" for the 1990s. And it will rightfully go down as one of the best books of business history of the last 25 years.


No Logo
No Logo
von Naomi Klein
  Gebundene Ausgabe

2 von 4 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen A well-balanced treatment of culture jamming, 27. März 2000
Rezension bezieht sich auf: No Logo (Gebundene Ausgabe)
I'm just finishing this book and while reading it, I've been very impressed by Naomi Klein's very balanced treatment of culture jamming amidst the incredible growth in "branding" during the 1990s. She steers clear of using a lot of consultant-speak that permeate other contemporary media critiques (there is no discussion of dataspheres and meta-memes here) nor does she come off as some perma-activist who ascribes all of the worlds ills to international capitalism. She describes the branding phenomena and explains lucidly why it tends to go overboard and what the very real result on peoples lives are.
This books is a GREAT read and is recommended to anyone whose heart sinks when they see another Starbucks open on their street or can't stand to watch another obnoxious GAP commercial.


Seite: 1