Description: When it was founded in 1993, Long-Term Capital Management was hailed as the most impressive hedge fund in history. Led by the stupendously successful bond arbitrageur John Meriwether, the firm boasted a partnership that included two Nobel Prize -- winning economists and a cadre of Wall Street and academia's elite traders. Today, Long-Term's name is synonymous with a financial disaster that nearly brought down the biggest banks on Wall Street: In just four years, the firm went from a 100 billion dollar moneymaking juggernaut to a colossal failure on Wall Street.<P>In When Genius Failed, bestselling author Roger Lowenstein captures the entire roller-coaster ride in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. He explains not just how the fund made and lost its money but what it was about the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the late 1990s culture of Wall Street that made it all possible. It is the cautionary financial tale of our time, and in Lowenstein's hands, it is a brilliant tale peppered with fast money, vivid characters, and high drama.

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