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. What put pressure on the currency in Brazil?

2. Who suspended arbitrage operations in April 1998?

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

4. What typically happens to stock prices when a merger is revealed?

5. What regulation did Long-Term bypass when trading equities?

Short Essay Questions

1. Since Long-Term expected stock prices would fall, what did they sell insurance against?

2. Who was Jon Corzine?

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

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

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

6. What was the goal of the Federal Reserve when it was created?

7. In 1997, what was Meriwether encouraging his employees to do?

8. How much of Long-Term did the Union Bank of Switzerland buy on a hedge?

9. When did huge losses begin for Long-Term and why?

10. What was the risk to the market if Long-Term unraveled?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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?

Essay Topic 2

Meriwether enjoyed building strong teams to work with. Write a brief essay examining the qualities he sought out in his team members.

Essay Topic 3

Write a brief essay supporting or refuting the following statement, citing examples from the text: Long-Term took part in risky investments as the market became over-saturated.

(see the answer keys)

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