![]() Thanks to their cast - which included a pair of future Nobel Prize winners - investors believed them. truly believed that their finely tuned computer models had tamed the genie of risk, and would allow them to bet on the future with near mathematical certainty. And so Long-Term Capital Management was born. In 1993, Meriwether gathered together his former disciples and a handful of supereconomists and proposed that they become partners in a new hedge fund different from any Wall Street had ever seen. ![]() For two years, his fiercely loyal team - convinced that the chief had been unfairly victimized - plotted their boss' return. In 1991, in the wake of a scandal involving one of his traders, Meriwether abruptly resigned. John Meriwether, a famously successful Wall Street trader, spent the 1980s as a partner at Salomon Brothers, establishing the best - and the brainiest - bond arbitrage group in the world. ![]()
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