{"product_id":"9781118250020","title":"The Crisis of Crowding Quant Copycats, Ugly Models, and the New Crash Normal","description":"\u003ch3\u003eBloomberg\u003c\/h3\u003e\u003ch1\u003eThe Crisis of Crowding\u003c\/h1\u003e\u003ch2\u003eQuant Copycats, Ugly Models, and the New Crash Normal\u003c\/h2\u003e\u003ch3\u003eLudwig B. Chincarini\u003c\/h3\u003e\u003cdiv\u003e\u003cb\u003eBusiness \u0026amp; Economics \/ Finance \/ General\u003c\/b\u003e\u003c\/div\u003e\u003cbr\u003e\u003cdiv\u003e\n\u003cb\u003eA rare analytical look at the financial crisis using simple analysis\u003c\/b\u003e  \u003cp\u003eThe 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. \u003ci\u003eThe Crisis of Crowding\u003c\/i\u003e 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.\u003c\/p\u003e \u003cp\u003eCovering 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.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eGuides the reader through the real story of Long-Term Capital Management with accurate descriptions, previously unpublished data, and interviews\u003c\/li\u003e \u003cli\u003eDescribes the lessons that hedge funds, as well as the market, should have learned from LTCM's collapse\u003c\/li\u003e \u003cli\u003eExplores how the financial crisis and LTCM are a global phenomena rooted in failures to account for risk in crowded spaces with leverage\u003c\/li\u003e \u003cli\u003eExplains why quantitative finance is essential for every financial institution from risk management to valuation modeling to algorithmic trading\u003c\/li\u003e \u003cli\u003eIs 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\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eA unique blend of storytelling and sound quantitative analysis, \u003ci\u003eThe Crisis of Crowding\u003c\/i\u003e 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.\u003c\/p\u003e\n\u003c\/div\u003e\u003cdiv\u003e \u003cp\u003e\u003cb\u003eLUDWIG B. CHINCARINI, CFA, PHD,\u003c\/b\u003e is a Professor of Finance in the School of Management at the University of San Francisco and Director of Quantitative Strategies for United States Commodity Funds, with over fifteen years of experience in the financial industry specializing in portfolio management, quantitative equity management, and derivatives. Prior to this, he was creative advisor to Index IQ. He was also Director of Research at Rydex Global Advisors, where he co-developed the S\u0026amp;P 500 equal-weight index and helped launch the Rydex ETF program. He helped build an internet brokerage firm, FOLIO\u003ci\u003efn\u003c\/i\u003e, designing its innovative basket trading and portfolio management platform. He also worked at the Bank for International Settlements (BIS) and Schroders. He is the coauthor of \u003ci\u003eQuantitative Equity Portfolio Management\u003c\/i\u003e. He received a PhD from the Massachusetts Institute of Technology and a BA from the University of California at Berkeley.\u003c\/p\u003e \u003c\/div\u003e\u003cbr\u003e\u003ctable\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublication Date: \u003c\/td\u003e\n\u003ctd\u003e31 July 2012\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublisher: \u003c\/td\u003e\n\u003ctd\u003eWiley\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eImprint: \u003c\/td\u003e\n\u003ctd\u003eBloomberg Press\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eISBN-13: \u003c\/td\u003e\n\u003ctd\u003e9781118250020\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFormat: \u003c\/td\u003e\n\u003ctd\u003eHardback\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePage Count: \u003c\/td\u003e\n\u003ctd\u003e512\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWeight (oz): \u003c\/td\u003e\n\u003ctd\u003e26.4\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/table\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":44310977151116,"sku":"9781118250020","price":36.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781118250020.jpg?v=1780206112","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9781118250020","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}