Inventing Money: The story of Long-Term Capital Management and the legends behind it, by Nicholas Dunbar. Published by John Wiley & Sons, £17.99

This will rank with Michael Lewis’ Liar’s Poker as the definitive tale of the rise and fall of a Wall Street phenomenon.

But instead of life on the front line at Salomon Brothers, the topic is Long-Term Capital Management -- one of the most intriguing and exciting financial institutions of the 1990s.

At its peak in 1998 LTCM was the most

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