When Genius Failed Quiz | Eight Week Quiz F

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 1998, who published Meriwether's letter to his clients?
(a) The Financial Times.
(b) The New York Times.
(c) Bloomberg.
(d) The New Yorker.

2. Michael Steindardt believed what was the "culprit in 1994"?
(a) Foolish investments.
(b) Poverty.
(c) Leverage.
(d) Wealth.

3. What were the models Long-Term used unable to predict?
(a) Investor's exact return.
(b) Long-Term's exact income.
(c) All of these.
(d) Market collapse.

4. What affected bond trading in the 1970's?
(a) The democratic elections.
(b) The Vietnam War.
(c) The price of commodities.
(d) The international monetary crisis.

5. What did the traders accept about the financial models they used?
(a) They were smarter than humans.
(b) They were expensive.
(c) They were imperfect.
(d) They removed the element of surprise.

Short Answer Questions

1. How much did Long-Term earn in its first year of operation?

2. What type of funds gained popularity in the 1990's?

3. How much did banks and investors make in conjunction with Long-Term?

4. What was Long-Term's signature trade based on?

5. In 1998, what type of contracts did Long-Term make with private entities?

(see the answer key)

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