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Table of Contents
Introduction: the paradox of market risk
The demons of '87
A new sheriff in town
How Salomon rolled the dice and lost
They bought Salomon, then they killed it
Long-term capital management rides the leverage cycle to hell
Colossus
Complexity, tight coupling, and normal accidents
The brave new world of hedge funds
Cockroaches and hedge funds
Hedge fund existential
Conclusion : built to crash?
The demons of '87
A new sheriff in town
How Salomon rolled the dice and lost
They bought Salomon, then they killed it
Long-term capital management rides the leverage cycle to hell
Colossus
Complexity, tight coupling, and normal accidents
The brave new world of hedge funds
Cockroaches and hedge funds
Hedge fund existential
Conclusion : built to crash?