When Genius Failed
Posted in Books, Investments on Apr 17th, 2008
The Rise and Fall of Long-Term Capital Management
An excellent history of the use of derivatives on Wall Street through the spectactular rise and fall of LTCM in four short years - from March 1994 through October 1998. The first modern swap took place in 1981 when David Swensen of Salomon, now managing Yale’s endowment [...]