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Long-Term Capital Management L.P. (LTCM) was a highly leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York .
Some members of the Salomon Brothers' bond arbitrage, such as John Meriwether, Myron Scholes and Eric Rosenfeld later became involved with Long-Term Capital Management (LTCM), a hedge fund that collapsed in 1998. [33] The last years of Salomon Brothers, culminating in its involvement with LTCM, is chronicled in the 2007 book A Demon of Our Own ...
When Genius Failed: The Rise and Fall of Long-Term Capital Management is a book by Roger Lowenstein published by Random House on October 9, 2000. The book tells an unauthorized account of the creation, early success, abrupt collapse, and rushed bailout of Long-Term Capital Management (LTCM). LTCM was a tightly held American hedge fund founded ...
In 1994 Scholes joined several colleagues, including John Meriwether, the former vice-chairman and head of bond trading at Salomon Brothers, and his future Nobel Memorial Prize co-winner Robert C. Merton, and co-founded a hedge fund called Long-Term Capital Management (LTCM). The fund, which started operations with $1 billion of investor ...
John Meriwether of Long-Term Capital Management, most successful returns from 27% to 59% through 1993 to 1998 until its collapse and liquidation. George Soros of Quantum Group of Funds; Ray Dalio of Bridgewater Associates, the world's largest hedge fund firm with US$160 billion in assets under management as of 2017 [37] [38]
A graduate of St. John’s University in Queens, N.Y., Slattery worked for the Sheraton Hotel corporation beginning in the 1970s. While working at a hotel in Queens, Slattery became close to his boss’s son, Morris Horn. The two joined forces with other investors to start a property management company, buying up older hotels across New York City.
Proprietary trading. Proprietary trading (also known as prop trading) occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm's own money (instead of using depositors' money) to make a profit for itself. [1] Proprietary trading can create potential conflicts of interest ...
Meriwether Group Adds COO from Endeavour Capital, New Principal and Attracts Nike, Perkins Coie and Executives to Board of Advisors PORTLAND, Ore.--(BUSINESS WIRE)-- Following a robust round of ...