When Genius Failed by Roger Lowenstein
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Book Reviews
At Peritus we have had a book club since 2017. It has led to great ideas on how to improve our investment and decision-making processes, while also very enjoyable as we learn together.
Below is one of the books that we have enjoyed and appreciated in recent years. We will continue to add new books and we would love to hear any recommendations you may have.
Book reviews
2020
When Genius Failed by Roger Lowenstein
A page-turning story about Long Term Capital Management, a hedge fund led by some of the smartest people in investing, including several Nobel Laureates. The fund delivered exceptional returns in the beginning, only to blow up in 1998. For us as manager selectors it provides valuable lessons in the risks of not really understanding what a fund manager does, being overly impressed by academic or professional credentials, and the use of leverage in enhancing returns.