In the enthralling narrative of "When Genius Failed," Roger Lowenstein unfolds the spectacular rise and precipitous fall of Long-Term Capital Management (LTCM), a hedge fund that epitomized both the zenith of financial acumen and the nadir of market hubris. Through meticulous research, including confidential memos and firsthand interviews, Lowenstein not only charts the trajectory of LTCM's fortunes—from its inception in 1993 as a Wall Street marvel to its 1998 collapse that nearly brought down the global financial system—but also delves into the complex personalities, mathematical certainties, and the Wall Street culture that fueled its astounding growth and its inevitable demise. This gripping account serves as a cautionary tale of how brilliance, when blinded by arrogance, can lead to catastrophic outcomes. As Lowenstein draws parallels between LTCM's downfall and the later global financial crisis, "When Genius Failed" emerges as a seminal work that transcends the specifics of one hedge fund's failure to reflect on broader themes of risk, triumph, and failure in the financial world. With a new Afterword that connects LTCM's story with the financial instability of the late 2000s, this book is not only a compelling history but also a prescient warning about the dangers of unchecked hubris and the inherent vulnerabilities within our financial systems. Lowenstein's masterful storytelling transforms complex financial events into an accessible and human saga of ambition, greed, and the quest for ultimate success in the volatile world of high-stakes finance.