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You should read "The fall of Long Term Capital Management by Robert Lowenstein". Fratty culture is not limted to the young or inexperienced. John William Meriw
by nashequilibrium 13y ago
You should read "The fall of Long Term Capital Management by Robert Lowenstein". Fratty culture is not limted to the young or inexperienced.
John William Meriwether - born August 10, 1947
Myron Samuel Scholes - born July 1, 1941
Robert Cox Merton - born 31 July 1944
- Crito 13y agoI didn't say that I think it is limited to the young. I said that I think that people interested in fratty culture tend to be young. Beanbag chairs and a constantly flowing keg are not meant to attract older talent. Certainly there are some older people who are attracted to that type of climate, but that really is not the target audience.
- onebaddude 13y agoThe book is "When Genius Failed", and though it's been a a while since I've read it, I don't recall either of the Nobel Prize winners (nor Merriwhether, for that matter) participating in any "frat-like" behaviour. Not everyone who works at a hedge fund comes from the cast of Boiler Room. Talk about painting people with the same brush...
- nashequilibrium 13y agoI read the book, read the part about the way they carried on at Salomon Brothers, very frat like without the wild parties & shots. Nobody labelled the Hedge Fund industry as boiler room types, especially since i spent 4yrs in the industry on the stat arb side.
- beagle3 13y agoMeriwether apparently deserves all the scorn you can muster, but Merton and Scholes don't according to my recollection of the book (and from people who had actually been there)