Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It
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."
"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."
"Dunbar's is....a highly readable introduction to the origins of alternative strategies employed throughout the industry today."
"...a fascinating account of this spectacular episode."
"A well researched book...very readable."
"...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."
"...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."
"...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