When Genius Failed Quiz | One Week Quiz A

Roger Lowenstein
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This quiz consists of 5 multiple choice and 5 short answer questions through The Human Factor.

Multiple Choice Questions

1. In 1996, why was it difficult to continue to find strong profits in arbitrage trades?
(a) It was illegal to perform these trades.
(b) The market was over-saturated.
(c) The market did not have enough players.
(d) Long-Term did not have investment capital.

2. What are some of the new markets Long-Term looked into in 1997?
(a) All of these.
(b) Equities.
(c) Stocks.
(d) Paired-shares.

3. Where were Italian bonds sold by Long-Term?
(a) Under the table.
(b) Cayman Islands.
(c) Directly to investors.
(d) Swaps.

4. What did Long-Term think about the financial crisis that hit in August of 1998?
(a) It was serious but would recover.
(b) It was serious and would not recover.
(c) It was not serious but would not recover.
(d) It was not serious.

5. What was the limitation on borrowing for equity trading?
(a) 40%.
(b) 10%.
(c) 50%.
(d) 25%.

Short Answer Questions

1. What put pressure on the currency in Brazil?

2. What did Long-Term risk losing if they allowed their assets to fall below five hundred million dollars?

3. In 1996, what was Meriwether encouraging Long-Term to do?

4. Who threatened to stop clearing the trades at Long-Term if their fund fell below a particular amunt?

5. In a letter to clients, to what did Long-Term attribute the decrease in profits?

(see the answer key)

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