000			03023cam a2200289 a 4500
008			120208s2012 nju ob 001 0 eng
020			_a9781118284803
020			_a9781118282717
020			_a9781118284384
040			_aSDU
050	0	0	_aHB3717 _bC539 C 2007
100	1		_aChincarini, Ludwig B.
245	1	4	_aThe crisis of crowding : _bquant copycats, ugly models, and the new crash normal / _cLudwig B. Chincarini.
250			_a1
260			_aHoboken, New Jersey : _bJohn Wiley & Sons, _c2012.
300			_a478 p.
490	0		_aBloomberg
505			_aHKBU library
518			_aYT2025 M09
520			_a"A rare analytical look at the financial crisis using simple analysisThe economic crisis that began in 2008 revealed the numerous problems in our financial system, from the way mortgage loans were produced to the way Wall Street banks leveraged themselves. Curiously enough, however, most of the reasons for the banking collapse are very similar to the reasons that Long-Term Capital Management (LTCM), the largest hedge fund to date, collapsed in 1998. The Crisis of Crowding looks at LTCM in greater detail, with new information, for a more accurate perspective, examining how the subsequent hedge funds started by Meriwether and former partners were destroyed again by the lapse of judgement in allowing Lehman Brothers to fail. Covering the lessons that were ignored during LTCM's collapse but eventually connected to the financial crisis of 2008, the book presents a series of lessons for hedge funds and financial markets, including touching upon the circle of greed from homeowners to real estate agents to politicians to Wall Street. Guides the reader through the real story of Long-Term Capital Management with accurate descriptions, previously unpublished data, and interviews Describes the lessons that hedge funds, as well as the market, should have learned from LTCM's collapse Explores how the financial crisis and LTCM are a global phenomena rooted in failures to account for risk in crowded spaces with leverage Explains why quantitative finance is essential for every financial institution from risk management to valuation modeling to algorithmic trading Is filled with simple quantitative analysis about the financial crisis, from the Quant Crisis of 2007 to the failure of Lehman Brothers to the Flash Crash of 2010 A unique blend of storytelling and sound quantitative analysis, The Crisis of Crowding is one of the first books to offer an analytical look at the financial crisis rather than just an account of what happened. Also included are a layman's guide to the Dodd-Frank rules and what it means for the future, as well as an evaluation of the Fed's reaction to the crisis, QE1, QE2, and QE3"--
610	2	0	_aLong-term Capital Management (Firm)
650		0	_aFinancial crises _zUnited States _xHistory _y21st century.
650		0	_aGlobal Financial Crisis, 2008-2009.
650		7	_aBUSINESS & ECONOMICS / Finance.
900			_a= C.1 SDU
942			_cGBE _2lcc
999			_c102274 _d102274