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i recently read a book: When genius failed by Roger Lowenstein
i personally find it very informative , comparable to "The Paper Money" which fti recommended in the early part of the thread
When genius failed is a book telling the story of the failure of Long Term Capital management detailing an era of advancement in high finance and reckless risk taking which was repeated many times in history, most recent i can recall was the sub prime crisis of 2008. in this book, i found a different perspective to fat tail, volatility, leverage, arrogance, warren buffett's involvement, sharks in the water and the black schole option pricing model. note that merton and scholes were hired as consultant to Long Term
i hope it will bring you new perspectives
oh and fti's colleague, John Reed of Citicorp was briefly mentioned too
i recently read a book: When genius failed by Roger Lowenstein
i personally find it very informative , comparable to "The Paper Money" which fti recommended in the early part of the thread
When genius failed is a book telling the story of the failure of Long Term Capital management detailing an era of advancement in high finance and reckless risk taking which was repeated many times in history, most recent i can recall was the sub prime crisis of 2008. in this book, i found a different perspective to fat tail, volatility, leverage, arrogance, warren buffett's involvement, sharks in the water and the black schole option pricing model. note that merton and scholes were hired as consultant to Long Term
i hope it will bring you new perspectives
oh and fti's colleague, John Reed of Citicorp was briefly mentioned too
THE ALL is MIND; The Universe is Mental
