When Genius Failed Test | Final 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. After the financial crisis in Russia, what did Long-Term regret?

2. In 1996, why was it difficult to continue to find strong profits in arbitrage trades?

3. What award did Merton and Scholes win for economics?

4. When Long-Term met with the Fed, it was obvious they did not have enough money to make it through what?

5. In its first bad year, what did Long-Term maintain?

Short Essay Questions

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

2. What did Long-Term do when they expected stock prices to fall?

3. What was the Fed's response to Long-Term's exposure?

4. Why did the issue in Russia cost Long-Term money on an initial basis?

5. What move did Salomon make that surprised Long-Term?

6. Who warned Long-Term about making trades that counted on falling stock prices?

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

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

9. By the end of August 1998, what did the movement in the bond market look like?

10. In spite of the economic crisis in Russia, what did Meriwether believe about Long-Term's trades?

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: Long-Term set out to be a low risk company and exemplified that mission for several years.

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

Meriwether began his career at Salomon Brothers before starting Long-Term. Write a detailed profile of his career path at Salomon Brothers, answering the following questions.

1) What risk did Meriwether take at Salomon Brothers?

2) What were the challenges and rewards?

3) Why did his career at Salomon Brothers come to an end?

(see the answer keys)

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