When Genius Failed Test | Mid-Book Test - Medium

Roger Lowenstein
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What did a dealer from J.F. Eckstein & Co. want from Meriwether in 1979?
(a) A better financial model.
(b) Empathy.
(c) Help.
(d) Real estate tips.

2. In 1996, what was Long-Term seeking from the bank that would handle their credit?
(a) Legitimacy.
(b) Asset storage.
(c) Cash flow.
(d) Tax shelter.

3. What did the Black-Scholes model believe was constant?
(a) Meriwether's enthusiasm.
(b) Volatility.
(c) Growth.
(d) Income.

4. Who ran the London office for Long-Term?
(a) Mullins.
(b) Haghani.
(c) Meriwether.
(d) Buffet.

5. What did banks and investors want from Long-Term?
(a) Regulation.
(b) Client referrals.
(c) To be involved.
(d) It to shut down.

Short Answer Questions

1. What was J.F. Eckstein & Co. primarily working on in 1979?

2. What was the typical scenario for bond investors in 1994?

3. Where was David W. Mullins working when Meriwether hired him?

4. How was Meriwether's career affected following the Treasury bill deal?

5. What did Rosenfeld and his friend develop?

Short Essay Questions

1. What did the Black-Scholes model help Long-Term to predict?

2. What were the legal limits on hedge fund investors?

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

4. What was Long-Term's objective in seeking out a bank to finance their credit?

5. Why was Meriwether made a partner at Salomon?

6. Why did Meriwether begin recruiting employees he had worked with at the Arbitrage Group?

7. On what did Long-Term base the claim that it was difficult to lose money with them?

8. Why did Black and Scholes believe that price changes were random?

9. What was Meriwether's business model for Long-Term?

10. When Meriwether was building his team at the Arbitrage Group, what qualities did he look for?

(see the answer keys)

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