When Genius Failed

When Genius Failed

Author: Roger Lowenstein

Publisher: Random House Trade Paperbacks

Published: 2001-10-09

Total Pages: 290

ISBN-13: 0375758259

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“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist


Book Synopsis When Genius Failed by : Roger Lowenstein

Download or read book When Genius Failed written by Roger Lowenstein and published by Random House Trade Paperbacks. This book was released on 2001-10-09 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist


The Rise and Fall of Management

The Rise and Fall of Management

Author: Gordon Pearson

Publisher: CRC Press

Published: 2016-03-03

Total Pages: 298

ISBN-13: 131701765X

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Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.


Book Synopsis The Rise and Fall of Management by : Gordon Pearson

Download or read book The Rise and Fall of Management written by Gordon Pearson and published by CRC Press. This book was released on 2016-03-03 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.


The Rise and Fall of Management

The Rise and Fall of Management

Author: Gordon Pearson

Publisher: CRC Press

Published: 2016-03-03

Total Pages: 267

ISBN-13: 1317017641

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Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.


Book Synopsis The Rise and Fall of Management by : Gordon Pearson

Download or read book The Rise and Fall of Management written by Gordon Pearson and published by CRC Press. This book was released on 2016-03-03 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insight into today's economic and financial problems comes, in this revealing book, from an understanding of how and why the practice and the teaching of management has developed as it has. Gordon Pearson, who has spent equal parts of his long career as a practising manager and a management educator, clarifies through rigorous historical review the difficult issues around management with which we struggle today, such as why management custom and practice so often lead to contravention of the law. Pearson reviews how management became a practice and body of understanding, the development of its crucial role in economic progress, and then how its corruption came about as a result of malign theory, leading to the dominance of the bonus payment culture and short term deal-making that plague us today. Understanding management's past, suggests Pearson, will help its improvement for the future. Contributing to that understanding, this challenging book sheds light on how management might be renewed and on the benign role it could play if freed from the restraints of inappropriate economic theory. This book is not just a history or a sociological analysis of management. It gives a broad, practically informed, critical view of the subject that will be welcomed by any reader with a professional or an academic interest in practice, theory, and context.


The Rise and Fall of Business Firms

The Rise and Fall of Business Firms

Author: S. V. Buldyrev

Publisher: Cambridge University Press

Published: 2020-08-13

Total Pages: 239

ISBN-13: 1107175488

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Combining a statistical physics approach and rigorous econometric analysis, this new framework looks at growth and decline in business firms.


Book Synopsis The Rise and Fall of Business Firms by : S. V. Buldyrev

Download or read book The Rise and Fall of Business Firms written by S. V. Buldyrev and published by Cambridge University Press. This book was released on 2020-08-13 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining a statistical physics approach and rigorous econometric analysis, this new framework looks at growth and decline in business firms.


The Rise and Fall of Strategic Planning

The Rise and Fall of Strategic Planning

Author: Henry Mintzberg

Publisher: Simon and Schuster

Published: 1994-01-31

Total Pages: 637

ISBN-13: 1439107351

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In this definitive and revealing history, Henry Mintzberg, the iconoclastic former president of the Strategic Management Society, unmasks the press that has mesmerized so many organizations since 1965: strategic planning. One of our most brilliant and original management thinkers, Mintzberg concludes that the term is an oxymoron -- that strategy cannot be planned because planning is about analysis and strategy is about synthesis. That is why, he asserts, the process has failed so often and so dramatically. Mintzberg traces the origins and history of strategic planning through its prominence and subsequent fall. He argues that we must reconceive the process by which strategies are created -- by emphasizing informal learning and personal vision -- and the roles that can be played by planners. Mintzberg proposes new and unusual definitions of planning and strategy, and examines in novel and insightful ways the various models of strategic planning and the evidence of why they failed. Reviewing the so-called "pitfalls" of planning, he shows how the process itself can destroy commitment, narrow a company's vision, discourage change, and breed an atmosphere of politics. In a harsh critique of many sacred cows, he describes three basic fallacies of the process -- that discontinuities can be predicted, that strategists can be detached from the operations of the organization, and that the process of strategy-making itself can be formalized. Mintzberg devotes a substantial section to the new role for planning, plans, and planners, not inside the strategy-making process, but in support of it, providing some of its inputs and sometimes programming its outputs as well as encouraging strategic thinking in general. This book is required reading for anyone in an organization who is influenced by the planning or the strategy-making processes.


Book Synopsis The Rise and Fall of Strategic Planning by : Henry Mintzberg

Download or read book The Rise and Fall of Strategic Planning written by Henry Mintzberg and published by Simon and Schuster. This book was released on 1994-01-31 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this definitive and revealing history, Henry Mintzberg, the iconoclastic former president of the Strategic Management Society, unmasks the press that has mesmerized so many organizations since 1965: strategic planning. One of our most brilliant and original management thinkers, Mintzberg concludes that the term is an oxymoron -- that strategy cannot be planned because planning is about analysis and strategy is about synthesis. That is why, he asserts, the process has failed so often and so dramatically. Mintzberg traces the origins and history of strategic planning through its prominence and subsequent fall. He argues that we must reconceive the process by which strategies are created -- by emphasizing informal learning and personal vision -- and the roles that can be played by planners. Mintzberg proposes new and unusual definitions of planning and strategy, and examines in novel and insightful ways the various models of strategic planning and the evidence of why they failed. Reviewing the so-called "pitfalls" of planning, he shows how the process itself can destroy commitment, narrow a company's vision, discourage change, and breed an atmosphere of politics. In a harsh critique of many sacred cows, he describes three basic fallacies of the process -- that discontinuities can be predicted, that strategists can be detached from the operations of the organization, and that the process of strategy-making itself can be formalized. Mintzberg devotes a substantial section to the new role for planning, plans, and planners, not inside the strategy-making process, but in support of it, providing some of its inputs and sometimes programming its outputs as well as encouraging strategic thinking in general. This book is required reading for anyone in an organization who is influenced by the planning or the strategy-making processes.


Getting Things Done

Getting Things Done

Author: David Allen

Publisher: Penguin

Published: 2015-03-17

Total Pages: 354

ISBN-13: 0698161866

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The book Lifehack calls "The Bible of business and personal productivity." "A completely revised and updated edition of the blockbuster bestseller from 'the personal productivity guru'"—Fast Company Since it was first published almost fifteen years ago, David Allen’s Getting Things Done has become one of the most influential business books of its era, and the ultimate book on personal organization. “GTD” is now shorthand for an entire way of approaching professional and personal tasks, and has spawned an entire culture of websites, organizational tools, seminars, and offshoots. Allen has rewritten the book from start to finish, tweaking his classic text with important perspectives on the new workplace, and adding material that will make the book fresh and relevant for years to come. This new edition of Getting Things Done will be welcomed not only by its hundreds of thousands of existing fans but also by a whole new generation eager to adopt its proven principles.


Book Synopsis Getting Things Done by : David Allen

Download or read book Getting Things Done written by David Allen and published by Penguin. This book was released on 2015-03-17 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book Lifehack calls "The Bible of business and personal productivity." "A completely revised and updated edition of the blockbuster bestseller from 'the personal productivity guru'"—Fast Company Since it was first published almost fifteen years ago, David Allen’s Getting Things Done has become one of the most influential business books of its era, and the ultimate book on personal organization. “GTD” is now shorthand for an entire way of approaching professional and personal tasks, and has spawned an entire culture of websites, organizational tools, seminars, and offshoots. Allen has rewritten the book from start to finish, tweaking his classic text with important perspectives on the new workplace, and adding material that will make the book fresh and relevant for years to come. This new edition of Getting Things Done will be welcomed not only by its hundreds of thousands of existing fans but also by a whole new generation eager to adopt its proven principles.


IBM

IBM

Author: James W. Cortada

Publisher: MIT Press

Published: 2023-08-01

Total Pages: 747

ISBN-13: 0262547821

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A history of one of the most influential American companies of the last century. For decades, IBM shaped the way the world did business. IBM products were in every large organization, and IBM corporate culture established a management style that was imitated by companies around the globe. It was “Big Blue, ” an icon. And yet over the years, IBM has gone through both failure and success, surviving flatlining revenue and forced reinvention. The company almost went out of business in the early 1990s, then came back strong with new business strategies and an emphasis on artificial intelligence. In this authoritative, monumental history, James Cortada tells the story of one of the most influential American companies of the last century. Cortada, a historian who worked at IBM for many years, describes IBM's technology breakthroughs, including the development of the punch card (used for automatic tabulation in the 1890 census), the calculation and printing of the first Social Security checks in the 1930s, the introduction of the PC to a mass audience in the 1980s, and the company's shift in focus from hardware to software. He discusses IBM's business culture and its orientation toward employees and customers; its global expansion; regulatory and legal issues, including antitrust litigation; and the track records of its CEOs. The secret to IBM's unequalled longevity in the information technology market, Cortada shows, is its capacity to adapt to changing circumstances and technologies.


Book Synopsis IBM by : James W. Cortada

Download or read book IBM written by James W. Cortada and published by MIT Press. This book was released on 2023-08-01 with total page 747 pages. Available in PDF, EPUB and Kindle. Book excerpt: A history of one of the most influential American companies of the last century. For decades, IBM shaped the way the world did business. IBM products were in every large organization, and IBM corporate culture established a management style that was imitated by companies around the globe. It was “Big Blue, ” an icon. And yet over the years, IBM has gone through both failure and success, surviving flatlining revenue and forced reinvention. The company almost went out of business in the early 1990s, then came back strong with new business strategies and an emphasis on artificial intelligence. In this authoritative, monumental history, James Cortada tells the story of one of the most influential American companies of the last century. Cortada, a historian who worked at IBM for many years, describes IBM's technology breakthroughs, including the development of the punch card (used for automatic tabulation in the 1890 census), the calculation and printing of the first Social Security checks in the 1930s, the introduction of the PC to a mass audience in the 1980s, and the company's shift in focus from hardware to software. He discusses IBM's business culture and its orientation toward employees and customers; its global expansion; regulatory and legal issues, including antitrust litigation; and the track records of its CEOs. The secret to IBM's unequalled longevity in the information technology market, Cortada shows, is its capacity to adapt to changing circumstances and technologies.


The Rise and Fall of Countryside Management

The Rise and Fall of Countryside Management

Author: Ian D. Rotherham

Publisher: Routledge

Published: 2015-07-16

Total Pages: 415

ISBN-13: 1135014884

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For at least half a century since the emergence of Country Parks and Forest Parks, countryside services have provided leisure, tourism, conservation, restoration and regeneration across Britain. Yet these services are currently being decimated as public services are sacrificed to the new era of austerity. The role and importance of countryside management have been barely documented, and the consequences and ramifications of cuts to these services are overlooked and misunderstood. This volume rigorously examines the issues surrounding countryside management in Britain. The author brings together the results of stakeholder workshops and interviews, and in-depth individual case studies, as well as a major study for the Countryside Agency which assessed and evaluated every countryside service provision in England. A full and extensive literature review traces the ideas of countryside management back to their origins, and the author considers the wider relationships and ramifications with countryside and ranger provisions around the world, including North America and Europe. The book provides a critical overview of the history and importance of countryside management, detailing the achievements of a largely forgotten sector and highlighting its pivotal yet often underappreciated role in the wellbeing of people and communities. It serves as a challenge to students, planners, politicians, conservationists, environmentalists, and land managers, in a diversity of disciplines that work with or have interests in countryside, leisure and tourism, community issues, education, and nature conservation.


Book Synopsis The Rise and Fall of Countryside Management by : Ian D. Rotherham

Download or read book The Rise and Fall of Countryside Management written by Ian D. Rotherham and published by Routledge. This book was released on 2015-07-16 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: For at least half a century since the emergence of Country Parks and Forest Parks, countryside services have provided leisure, tourism, conservation, restoration and regeneration across Britain. Yet these services are currently being decimated as public services are sacrificed to the new era of austerity. The role and importance of countryside management have been barely documented, and the consequences and ramifications of cuts to these services are overlooked and misunderstood. This volume rigorously examines the issues surrounding countryside management in Britain. The author brings together the results of stakeholder workshops and interviews, and in-depth individual case studies, as well as a major study for the Countryside Agency which assessed and evaluated every countryside service provision in England. A full and extensive literature review traces the ideas of countryside management back to their origins, and the author considers the wider relationships and ramifications with countryside and ranger provisions around the world, including North America and Europe. The book provides a critical overview of the history and importance of countryside management, detailing the achievements of a largely forgotten sector and highlighting its pivotal yet often underappreciated role in the wellbeing of people and communities. It serves as a challenge to students, planners, politicians, conservationists, environmentalists, and land managers, in a diversity of disciplines that work with or have interests in countryside, leisure and tourism, community issues, education, and nature conservation.


Relevance Lost

Relevance Lost

Author:

Publisher:

Published: 1991

Total Pages: 269

ISBN-13:

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Book Synopsis Relevance Lost by :

Download or read book Relevance Lost written by and published by . This book was released on 1991 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt:


The Rise and Fall of Wessex Asset Management and the 2008 Crash

The Rise and Fall of Wessex Asset Management and the 2008 Crash

Author: Tim Weir

Publisher: Cambridge Scholars Publishing

Published: 2016-06-22

Total Pages: 255

ISBN-13: 1443896780

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What caused the Global Financial Crisis of 2008? What lessons should be learnt from it? Could it happen again? Taking his own career in the City of London as a starting point, the author tackles these important questions. His position as a fund manager in a variety of financial institutions during the 1980s and 1990s, and then as a hedge fund manager from 1999 to 2011, gives him the ideal vantage point. He is an insider: he knows the trade, the pitfalls, the hubris and the mistakes. This highly readable book highlights the fundamental weaknesses of the financial system: the problems surrounding liquidity and risk, the vulnerability of the market to errors and overshoots, and the devastating effects of amplifying those errors with unsustainable amounts of debt. The book also examines issues such as women in hedge funds, pay in the finance sector, and the future of the Eurozone. The distinction between the banking system and the hedge fund industry is also brought into sharp focus. With an entertaining and lively style, the book leads the reader effortlessly through complex arguments and analysis, leading to a comprehensive overview of the financial crisis as well as a clear-eyed grasp of the finer details. Whatever your level of financial expertise, this is essential reading.


Book Synopsis The Rise and Fall of Wessex Asset Management and the 2008 Crash by : Tim Weir

Download or read book The Rise and Fall of Wessex Asset Management and the 2008 Crash written by Tim Weir and published by Cambridge Scholars Publishing. This book was released on 2016-06-22 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: What caused the Global Financial Crisis of 2008? What lessons should be learnt from it? Could it happen again? Taking his own career in the City of London as a starting point, the author tackles these important questions. His position as a fund manager in a variety of financial institutions during the 1980s and 1990s, and then as a hedge fund manager from 1999 to 2011, gives him the ideal vantage point. He is an insider: he knows the trade, the pitfalls, the hubris and the mistakes. This highly readable book highlights the fundamental weaknesses of the financial system: the problems surrounding liquidity and risk, the vulnerability of the market to errors and overshoots, and the devastating effects of amplifying those errors with unsustainable amounts of debt. The book also examines issues such as women in hedge funds, pay in the finance sector, and the future of the Eurozone. The distinction between the banking system and the hedge fund industry is also brought into sharp focus. With an entertaining and lively style, the book leads the reader effortlessly through complex arguments and analysis, leading to a comprehensive overview of the financial crisis as well as a clear-eyed grasp of the finer details. Whatever your level of financial expertise, this is essential reading.