When Genius Failed Test | Mid-Book Test - Hard

Roger Lowenstein
This set of Lesson Plans consists of approximately 99 pages of tests, essay questions, lessons, and other teaching materials.
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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. In 1994, why did the price of bonds drop?

2. What did Rosenfeld and his friend develop?

3. What did Long-Term want to do for investors?

4. Who typically invested in hedge funds?

5. What group did Meriwether found in 1977?

Short Essay Questions

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

2. Why did hedge funds make money for managers?

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

4. What methods did Black and Scholes use to predict the changes that would take place in the market?

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

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

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

8. Why are hedge funds considered low risk?

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Write a brief essay supporting or refuting the following statement, citing examples from the text: The irresponsible management of Long-Term by the partners led to its downfall.

Essay Topic 2

When Meriwether set up Long-Term, he had to take many steps to create the company. Write an essay examining the process Meriwether went through to create Long-Term.

Essay Topic 3

In the late 1970's, the financial climate was changing due to technology. Examine the changes this brought about in the financial market and how these changes directly affected Meriwether.

(see the answer keys)

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