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Joel-Oskar
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When Genius Failed: The Rise and Fall of Long Term Capital Management, by Roger Lowenstein

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a naked, unhedged bet that this rate would rise—a so-called directional trade in that it was betting on a single rate as distinct from a spread.
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When Genius Failed: The Rise and Fall of Long Term Capital Management
When Genius Failed: The Rise and Fall of Long Term Capital Management
by Roger Lowenstein
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