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Financial services Investment management. 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. [ 1 ]
Bear Stearns. The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 during the 2007–2008 financial crisis and the Great Recession. After its closure it was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets ...
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 ...
Richard Driehaus. Richard Herman Driehaus (/ ˈdriːhaʊs /; July 28, 1942 – March 9, 2021) [ 1 ][ 2 ] was an American businessman, investor, and philanthropist. He was the founder, chief investment officer, and chairman of the hedge fund, Driehaus Capital Management LLC, based in Chicago.
Headquarters of AIG, an insurance company rescued by the United States government during the subprime mortgage crisis "Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and therefore should be supported ...
A long-term capital loss refers to money that you lose on investments held for more than 12 months. The alternative is a short-term capital loss, money lost on investments that you held for less ...
The Missing Billionaires: A Guide to Better Financial Decisions is a 2023 book by James White and Victor Haghani. Haghani was a founding partner of Long-Term Capital Management. Vladimir V. Piterbarg wrote "the authors convincingly argue that the Expected Utility framework is the right one for decision making for the bulk of financial decisions ...
Myron Samuel Scholes (/ ʃ oʊ l z / SHOHLZ; [1] born July 1, 1941) is a Canadian–American financial economist.Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model.