S’s Reviews > When Genius Failed: The Rise and Fall of Long-Term Capital Management > Status Update

Spending the day learning about options, exotics, and pay off structures paid off ( ha ha ) because more of the trades make more sense now

“You take Monica Lewinsky, who walks into Clinton's office with a pizza. You have no idea where that's going to go," Conseco's Max Bublitz, who had declined to invest in Long-Term, noted. "Yet if you apply math to it, you come up with a thirty-eight percent chance she’s going to go down on him”