When Genius Failed Test | Mid-Book Test - Hard

Roger Lowenstein
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What was the end result of Meriwether's Treasury bill deal?

2. In 1993, what was happening more than usual in America?

3. What group did Meriwether found in 1977?

4. Who did most funds have to be registered with?

5. What is the method of paying a percentage of a bond called?

Short Essay Questions

1. When Meriwether reached out to his clients following the Russian crisis, how did he explain the effect of the situation in Russia?

2. Why was the investment in Italy a risky one for Long-Term to make?

3. During the financial crisis in 1998, where were the partners finding money?

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

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

6. Following the financial crisis in Russia, what did the partners do to begin raising money?

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

8. Why are hedge funds considered low risk?

9. What did the Fed determine would happen if Long-Term failed?

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

Essay Topics

Essay Topic 1

The investment requirements of Long-Term were quite stringent. Citing examples from the text, write an essay examining the investment requirements and opportunity for return for potential Long-Term investors.

Essay Topic 2

Basing your answer on the height of Long-Term's career, compare and contrast several of the companies on Wall Street with Long-Term, citing examples from the text.

Essay Topic 3

The academic model Long-Term used for investing proved impressive on many occasions.

1) What were the principles behind the Value-at-Risk models?

2) What were the problems with these models?

3) How did these models impact the investments placed by Long-Term?

(see the answer keys)

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