Here's a special episode from Business History (which even mentions Liar's Poker!). Business History is a show about, you guessed it, the history of business and what we can learn from founders and companies. John Meriwether assembled the smartest team on Wall Street. In the 1980s, he combed Harvard and MIT for geniuses to join him at Salomon Brothers and make the investment bank a fortune with arbitrage — the trick of buying an asset cheap in one place and quickly selling it for a profit in another. When he parted ways with Salomon Brothers, Meriwether took his "nerds" to set up a hedge fund. They prospered — making themselves and their clients rich. Two employees even picked up a Nobel Prize. But Long Term Capital Management operated in the real world — where projections and charts and formulas can't protect you from political chaos and economic turmoil. Find more episodes of Business History on YouTube, Apple, Spotify or wherever you get podcasts.See omnystudio.com/listener for privacy information.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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