When genius failed …

Two days ago, we wrote a post referring to an article titled, “The world’s smartest investors have failed …

There are numerous instances when the experts, the smartest in their respective fields, the best in the business, the genius have failed. Failure happens. When, where, how, why – these are questions that often have no answers. However, in certain cases, the answer to the “why” lies in one’s overconfidence, ego, refusal to learn – it’s all in the mind.

Just as a reminder, we have borrowed the title of today’s post from a book by the same name, written by Roger Lowenstein, highlighting how a team of the best in the business failed at their own game. It is a compelling story of a very large investment fund – Long Term Capital Management. Managed by Nobel Laureates, the fund could not live up to its name even and did not survive the “long term”. In “Riding The Roller Coaster – Lessons from financial market cycles we repeatedly forget”, we have a chapter on this episode.

#RidingTheRollerCoaster – 158

 

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