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Phrase originally coined, in fact, to describe Victor Hagani/LTCM's financial strategy. After the fact, of course. While they were doing it they were fucking brilliant. When Genius Failed is a great book to read because unlike most financial tell-alls, it isn't a book about smart people doing dumb things out of hubris and showing their ass as a result; it's about "here's this brilliant strategy/process that everyone agrees is genius until suddenly the market moves against you and bam you're fucked."