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