When Genius Failed is a wonderfully narrated story of hubris at its peak, of financial mathematical modeling bringing a hedge fund up to the pinnacle of its field and those same financial models bringing the fund to its knees (as well as many more major, major players).
That so much leverage could be allowed to exist is just mind-boggling. That this leverage for the most part was basically free was even more mind-boggling.
Roger Lowenstein does a great job of portraying the main players as the characters they are. The pace is wonderful and the details are wonderful as well. This is the way a non-fiction book should be written. So many are dry boring recitations of names, dates and facts. But when done correctly, as Mr. Lowenstein has done here, the result is a gem. Because it is based on a reality of events, not the constructs of fiction. Highly recommended.
