Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It - Softcover

Dunbar, Nicholas

Softcover

ISBN 10: 0471498114 ISBN 13: 9780471498117

Publisher: Wiley, 2000

Synopsis

LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in September 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it. A brave and ambitious work, Inventing Money was written by leading financial journalist Nicholas Dunbar.

About this title

Review:

"...a primer for those interested in the world of financial theory."
––Financial Times

"Inventing Money is not the last word on the subject, but it is a good start."
––The Economist

"Dunbar tells the full story of this most public of financial disasters, unveiling previously undisclosed information, in captivating and accessible terms."
––EuroBusiness

"Mr Dunbar has gained the rare distinction of writing an interesting and informative book on a very complex financial subject and for that he deserves much credit."
––Offshore Financial Review

"Dunbar offers us a well–written and informative account of how the company′s culture developed, and why LTCM plummeted so dramatically."
––Balance Sheet

"It is a fast moving and readable account that explains the development of finance over the centuries before recounting the brief but eventful life of LTCM."
––Risk

"A fascinating tale, not to be missed."
––Chartered Secretary

"...his brave effort to explore the LTCM fiasco, its origins, and its ramifications. Dunbar is a former academician and journalist, making him an ideal writer to explore the theoretical origins of LTCM.

The author excels with his affectionate portrait of financial–theory giants such as the late Fischer Black. This book is a good source of information on the theoretical underpinnings of modern arbitrage."
––Business Week

"Nicholas Dunbar has written a fascinating account of this spectacular episode, and in doing so has provided an instructive insight into the functioning of global capitalism."
––CIB News

"Nicholas Dunbar′s fascinating book is well–written. The book should appeal to a wide audience. Economists should certainly read it. Dunbar writes in a clear and accessible manner."

From the Back Cover:

LTCM was the fund that was too big to fail, the brightest star in the financial world. Built on genius, by legends of Wall Street and two Nobel laureates, it spiralled to ever greater heights, commanding unimaginable wealth. When it fell to earth in Spetember 1998 it shook the world. This is the story of the rise and fall of LTCM and the legends behind it.

"Inventing Money is a brave and ambitious book....a highly readable account of a financial drama of the highest kind."
--The Independent

"Nicholas Dunbar's fascinating book is a well-writen chronicle of these events....a book to enjoy."
--Times Higher Educational Supplement

"A substantial primer on the history of financial theory, not least because of Mr Dunbar's knack for colourful parallels that illuminate his arguments."
--New York Times

"...not the last word on the subject, but it is a good start."
--The Economist

"Dunbar's is....a highly readable introduction to the origins of alternative strategies employed throughout the industry today."
--Portfolio International

"...a fascinating account of this spectacular episode."
--CIB News

"A well researched book...very readable."
--Investors Chronicle

"...a penetrating look at this enthralling story, stripping away the shroud of mystery surrounding the drama that rocked the financial world.... Dunbar tells the full story of this most public of financial disasters, unveiling previously undisclosed information, in captivating and accessible terms."
--Euro Business

"...a fast moving and readable account that explains the development of finance over the centuries before recounting the brief but eventful life of LTCM. It gives a strong flavour of the people and the times, their resentments and motivations."
--Risk

"...an essential insight into the development of financial markets and the history of man's attempt to predict investor behaviour.... It should be required reading for anyone considering investing in financial markets."
--Allianz Global Risk Report

About this edition

• Publisher: Wiley
• Publication date: 2000
• ISBN 10: 0471498114
• ISBN 13: 9780471498117
• Binding: Paperback
• Edition number: 1
• Number of pages: 278