When Genius Failed Short Essay - Answer Key

Roger Lowenstein
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Short Essay Questions Key

1. What surprise happened when Meriwether was trading Treasury Bill futures?

When Meriwether was trading Treasury Bill futures, he was surprised when the future price became higher than the cash price.

2. Why did Meriwether increase his position on Treasury Bill futures in spite of the market fluctuation?

Meriwether increased his position on Treasury Bill futures in spite of the market fluctuation because he still expected the market to behave in a certain pattern.

3. Why was Meriwether made a partner at Salomon?

Meriwether was made a partner at Salomon because his deal with the Treasury Bill futures made the company a substantial amount of money.

4. What was Meriwether's group at Salomon given the authority to do?

Meriwether's group at Salomon was given the authority to do spread trades.

5. Why did bonds lose their value in the 1970's?

Bonds lost their value in the 1970's due to the international money crisis.

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