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{{review|Inventing Money: The Story of | {{a|book review|}}{{br|Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It}}<br> | ||
{{author|Nicholas Dunbar}}<br> | |||
First published on April 11, 2000 | |||
===On pride, haughty spirits, etc.=== | |||
I was prompted into buying this book after seeing a truly hopeless Channel 4 documentary about the [[LTCM]] collapse which attempted — but failed entirely — to explain what LTCM was all about: What the [[Black-Scholes option pricing model]] did, how Meriwether and cohorts used it to make money, and how they managed to singlehandedly bring western world as we know it to the brink of financial collapse with a formula which is supposed to completely eliminate risk. | I was prompted into buying this book after seeing a truly hopeless Channel 4 documentary about the [[LTCM]] collapse which attempted — but failed entirely — to explain what LTCM was all about: What the [[Black-Scholes option pricing model]] did, how Meriwether and cohorts used it to make money, and how they managed to singlehandedly bring western world as we know it to the brink of financial collapse with a formula which is supposed to completely eliminate risk. | ||