When Genius Failed Quiz | Eight Week Quiz B

Roger Lowenstein
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This quiz consists of 5 multiple choice and 5 short answer questions through On the Run.

Multiple Choice Questions

1. Why did Long-Term trade in Italy?
(a) Meriwether was Italian.
(b) It was a safe market.
(c) The tax write-off opportunity.
(d) The opportunity for big returns.

2. What did Meriwether do with his staff?
(a) Dine.
(b) Play golf.
(c) Travel.
(d) All of these.

3. When Meriwether increased his position in Treasury futures, what did he expect the market to do?
(a) Perform typically.
(b) Drop substantially.
(c) Rise sharply overnight.
(d) Collapse.

4. Where was David W. Mullins working when Meriwether hired him?
(a) Salomon Brothers.
(b) Federal Reserve.
(c) The United Nations.
(d) Yale School of Finance.

5. What did Long-Term do when IOs started to fall?
(a) Buy them up.
(b) Sell their shares.
(c) Lie to investors.
(d) Explain the situation to investors.

Short Answer Questions

1. Michael Steindardt believed what was the "culprit in 1994"?

2. How long did Long-Term expect their investors to commit?

3. What type of strategy did Long-Term employ?

4. In order for Meriwether's Treasury futures investment to work, what did he need market prices to do?

5. Where did Meriwether work in 1979?

(see the answer key)

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