I had heard about LTCM but didn't know what had really happened.
The biggest takeaway for me is that markets are irrational, they seem to be very logical and can be modeled in precise mathematical terms
Turns out the they dont and it has manifested multiple times in history, but someone always thinks they found the formula
Interesting read.
A serious examination of the faulty reasoning that leads to repeated mistakes by individuals, businesses, and nations
What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common?
Matthew Walker has made abundantly clear that sleep is one of the most important but least understood aspects of our life
A radical reappraisal of the nature and activities of business—what it is for and how it works
Timeless lessons on wealth, greed and happiness
