Books with author Lowenstein

“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York TimesNAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEKIn 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

“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York TimesNAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEKIn 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

John Meriwether, a famously successful Wall Street trader, spent the 1980s as a partner at Salomon Brothers, establishing the best--and the brainiest--bond arbitrage group in the world. A mysterious and shy midwesterner, he knitted together a group of Ph.D.-certified arbitrageurs who rewarded him with filial devotion and fabulous profits. Then, in 1991, in the wake of a scandal involving one of his traders, Meriwether abruptly resigned. For two years, his fiercely loyal team--convinced that the chief had been unfairly victimized--plotted their boss's return. Then, in 1993, Meriwether made a historic offer. He gathered together his former disciples and a handful of supereconomists from academia and proposed that they become partners in a new hedge fund different from any Wall Street had ever seen. And so Long-Term Capital Management was born. In a decade that had seen the longest and most rewarding bull market in history, hedge funds were the ne plus ultra of investments: discreet, private clubs limited to those rich enough to pony up millions. They promised that the investors' money would be placed in a variety of trades simultaneously--a "hedging" strategy designed to minimize the possibility of loss. At Long-Term, Meriwether & Co. truly believed that their finely tuned computer models had tamed the genie of risk, and would allow them to bet on the future with near mathematical certainty. And thanks to their cast--which included a pair of future Nobel Prize winners--investors believed them. From the moment Long-Term opened their offices in posh Greenwich, Connecticut, miles from the pandemonium of Wall Street, it was clear that this would be a hedge fund apart from all others. Though they viewed the big Wall Street investment banks with disdain, so great was Long-Term's aura that these very banks lined up to provide the firm with financing, and on the very sweetest of terms. So self-certain were Long-Term's traders that they borrowed with little concern about the leverage. At first, Long-Term's models stayed on script, and this new gold standard in hedge funds boasted such incredible returns that private investors and even central banks clamored to invest more money. It seemed the geniuses in Greenwich couldn't lose. Four years later, when a default in Russia set off a global storm that Long-Term's models hadn't anticipated, its supposedly safe portfolios imploded. In five weeks, the professors went from mega-rich geniuses to discredited failures. With the firm about to go under, its staggering $100 billion balance sheet threatened to drag down markets around the world. At the eleventh hour, fearing that the financial system of the world was in peril, the Federal Reserve Bank hastily summoned Wall Street's leading banks to underwrite a bailout. Roger Lowenstein, the bestselling author of Buffett, captures Long-Term's roller-coaster ride in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. He explains not just how the fund made and lost its money, but what it was about the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the late-nineties culture of Wall Street that made it all possible. When Genius Failed is the cautionary financial tale of our time, the gripping saga of what happened when an elite group of investors believed they could actually deconstruct risk and use virtually limitless leverage to create limitless wealth. In Roger Lowenstein's hands, it is a brilliant tale peppered with fast money, vivid characters, and high drama.

This best-selling collection is filled with creative assessment and treatment techniques for use in individual, group, and family settings. The book begins with a variety of engaging assessment activities providing clinicians with diagnostic tools to assist in treatment planning. The remaining four chapters provide activities to help children and teens identify feeling states, cope with emotional difficulties, strengthen interpersonal skills, and enhance self-esteem. The last section of the book describes the graduation ceremony that can be incorporated as part of the child's termination process. Each activity is described within a framework that recommends age suitability, preferred treatment modality, and appropriate stage of treatment. Materials needed to complete the activity are outlined. Several activities include worksheets that may be reproduced for use with clients. The book includes detailed instructions for all activities and a discussion section that further clarifies application and process. Activities are geared to 4-16 year-olds. Mental health professionals and teachers will find this book invaluable.

THE RESCUE MAN presents the extraordinary and unique journey of a World War II-era rescue pilot, First Lieutenant Frank Philby “Bud” Hayes, from his childhood in Idaho through his training for and service during World War II. Bud helps tell this story himself through his letters and records, which are this book’s main foundation and reveal tales of excitement, trials and tribulations, achievement, heroism and ultimately tragedy and mystery. The U.S. Army Air Force’s Second Emergency Rescue Squadron that Bud served in saved over seven hundred downed pilots during the war, making them responsible for thousands of children and grandchildren being alive today. Nevertheless, history has left Bud’s incredible story, and that of his squadron, largely untold... until now.Paralleling this book’s focus on Bud and his rescue squadron, this book also tells the interrelated broader story of major pre-, mid- and post-World War II events occurring in the U.S., Europe and the Pacific. This includes little known, but significant, stories like that of a turf war between the U.S. Army Air Force and the U.S. Navy over who would be responsible for performing rescue missions during World War II, all while their servicemen’s lives hung in the balance. In this book, World War II’s events help tell Bud’s story, and Bud’s events help tell World War II’s story. Or as this book’s preface states it, the book “tells history through a biography and presents a biography in the context of history.”As members of Bud’s greatest generation continue to pass on from our lives, it is important that we preserve their unique and sometimes never-before-heard stories about World War II. This is one such story. It is the untold story of Bud, of his Second Emergency Rescue Squadron and of their involvement in and relation to the events of World War II. The story is as extraordinary, unique and powerful as it ultimately is tragic and mysterious. Thanks to Bud and his rescue squadron, over seven hundred men returned home from war with the opportunity to start families and pursue their American dreams. Will Bud also come home?

Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners. Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a discreet private investment club limited to those rich enough to pony up millions. It became the banks' own favourite fund and from its inception achieved a run of dizzyingly spectacular returns. New investors barged each other aside to get their investment money into LTCM's hands. But as competitors began to mimic Meriweather's fund, he altered strategy to maintain the fund's performance, leveraging capital with credit on a scale not fully understood and never seen before. When the markets in Indonesia, South America and Russia crashed in 1998 LCTM's investments crashed with them and mountainous debts accumulated. The fund was in melt-down, and threatening to bring down into its trillion-dollar black hole a host of financial instiutions from New York to Switzerland. It's a tale of vivid characters, overwheening ambition, and perilous drama told, in Roger Lowenstein's hands, with brilliant style and panache.

THE RESCUE MAN presents the extraordinary and unique journey of a World War II-era rescue pilot, First Lieutenant Frank Philby “Bud” Hayes, from his childhood in Idaho through his training for and service during World War II. Bud helps tell this story himself through his letters and records, which are this book’s main foundation and reveal tales of excitement, trials and tribulations, achievement, heroism and ultimately tragedy and mystery. The U.S. Army Air Force’s Second Emergency Rescue Squadron that Bud served in saved over seven hundred downed pilots during the war, making them responsible for thousands of children and grandchildren being alive today. Nevertheless, history has left Bud’s incredible story, and that of his squadron, largely untold... until now. Paralleling this book’s focus on Bud and his rescue squadron, this book also tells the interrelated broader story of major pre-, mid- and post-World War II events occurring in the U.S., Europe and the Pacific. This includes little known, but significant, stories like that of a turf war between the U.S. Army Air Force and the U.S. Navy over who would be responsible for performing rescue missions during World War II, all while their servicemen’s lives hung in the balance. In this book, World War II’s events help tell Bud’s story, and Bud’s events help tell World War II’s story. Or as this book’s preface states it, the book “tells history through a biography and presents a biography in the context of history.” As members of Bud’s greatest generation continue to pass on from our lives, it is important that we preserve their unique and sometimes never-before-heard stories about World War II. This is one such story. It is the untold story of Bud, of his Second Emergency Rescue Squadron and of their involvement in and relation to the events of World War II. The story is as extraordinary, unique and powerful as it ultimately is tragic and mysterious. Thanks to Bud and his rescue squadron, over seven hundred men returned home from war with the opportunity to start families and pursue their American dreams. Will Bud also come home?

Be sure to read the fine print before you order... Mark graduates high school at age fourteen but instead of going on to become a successful computer wizard, he becomes a fix-it man who is content to live a low-key life. But one day he decides to change all that. He gets a real job, wearing suits and business shoes instead of T-shirts and sneakers. And when he buys a house - a very old house - something very odd begins to happen. He receives catalogs. Not just any catalogs, but the most obscure toy catalogs he has ever seen. And then on a whim, he decided to order from one of the them. Action figures. Maybe he should have thrown the catalogs away, because now he has his hands full - and there are no refunds and no returns. Too late, he remembers the old warning: Let the Buyer Beware!

markhan Perralt. Brilliant, Eccentric. He graduats from high school at age fourteen, voted by his friends to become the greatest computer geek in history. Instead he becomes a fix-it man, until he is prodded by his tenth high school reuion to prove himself. Suddenly he reappears as the rising star of a computer firm. Gone are his yellow tennis shes, held together by red dental floss. gone are his blue jeans and wire-rim glasses, preplaced by business shoes, business suits and contact lenses. But he grieves for his lost boyhood, where daydraming and pretending and crafting things with his hands filled his days. When his bosses force him to move ut of his beloved cottage at the edge of Old Willingham Park for something more upscale, he buys an oddly unconvential house with a tree growing through the wide porch. And when it turns out that a flood of obscure toy catalogs pour through the mil slot on a daily basis, he can't resist ordering just a few toys, choosing to ignore the declarations of no refunds, no returns. Too late, after his orders arrive and aren't exactly toys, he remembers the old warning: Let the buyer beware!