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When Genius Failed

When Genius Failed is about the collapse of Long-Term Capital Management. I found this quote particularly insightful.

"Their hunger to turn millions into billions knew no bounds, nor did it recognize any risks. For men who prided themselves on being disciples of reason, their drive to live on the edge seemed inexplicable, unless they believed that becoming the richest would certify them as also being the smartest."
Pg. 109

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This page contains a single entry from the blog posted on September 11, 2007 3:22 PM.

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