https://www.amazon.com/When-Genius-Failed-Long-Term-Management/dp/0375758259 https://www.amazon.com/When-Genius-Failed-Long-Term-Manageme... https://en.wikiped

https://www.amazon.com/When-Genius-Failed-Long-Term-Management/dp/0375758259 https://www.amazon.com/When-Genius-Failed-Long-Term-Manageme... https://en.wikipedia.org/wiki/Long-Term_Capital_Management https://en.wikipedia.org/wiki/Long-Term_Capital_Management > Initially successful with annualized return of over 21% (after fees) in its first year, 43% in the second year and 41% in the third year, in 1998 it lost $4.6 billion in less than four months following the 1997 Asian financial crisis and 1998 Russian financial crisis requiring financial intervention by the Federal Reserve, with the fund liquidating and dissolving in early 2000.