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  2. Long-Term Capital Management - Wikipedia

    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. LTCM was founded in 1994 by John Meriwether, the former vice-chairman and head of bond trading at Salomon Brothers.

  3. What Was Long-Term Capital Management (LTCM) and What Happened?

    Long-Term Capital Management (LTCM) was a large hedge fund, led by Nobel Prize-winning economists and renowned Wall Street traders, that blew up in 1998, forcing the U.S. government to intervene ...

  4. Long-Term Capital Management Hedge Fund Crisis - The Balance

    Long-Term Capital Management was a massive hedge fund with $126 billion in assets. It almost collapsed in late 1998. If it had, that would have set off a global financial crisis. LTCM's success was due to the stellar reputation of its owners.

  5. A Retrospective on the Demise of Long-Term Capital Management

    The 10th anniversary of the harrowing financial events of September 2008 is nearly upon us. The anniversary will undoubtedly be marked by various retrospectives analyzing those events. For a longer-term perspective, though, it may be helpful to consider another anniversary that will be observed in September 2018: the near failure of Long-Term Capital Management, L.P. and its fund, Long-Term Capital Portfolio, L.P. (collectively “LTCM”) 20 years ago.

  6. The Fall of Long-Term Capital Management - Business Insider

    By February 1994, Long-Term Capital launched with the largest amount of funding ever at $1.25 billion. In two years, LTCM had risen to over $140 billion in assets.

  7. Hedge Funds and the Collapse of Long-Term Capital Management ...

    Using data from Managed Accounts Reports, the author examines the size of the hedge fund industry, returns, correlations, and risks. In addition, he reviews the primary classifications of hedge funds and considers how hedge funds achieve their performance. The author describes the history of Long-Term Capital Management (LTCM) and reviews the performance and size of its assets under management.

  8. Long-Term Capital Management - Financial Scandals, Scoundrels ...

    Long-Term Capital Management (LTCM) was founded as a hedge fund in 1994 by Salomon Brothers star trader John Meriwether. LTCM enjoyed an impeccable reputation and boasted two Nobel Laureates on staff: Robert Merton and Myron Scholes. The firm primarily invested in risk arbitrage strategies and was well known for its acumen in this area.


    Long-Term Capital Management was a type of investment vehicle known as a hedge fund. Hedge funds are essentially large unregulated private investment pools for wealthy individuals and institutions. Specifically, hedge funds “are exempt under sections 3(c)(1) and 3(c)(7) of the 1940 Investment Company Act.”7 This means that hedge funds are not limited

  10. The Failure of Long Term Capital Management (LTCM)

    This made Long Term Capital Management (LTCM) lose a lot of money. They were losing close to $500 million every single day in mark to market losses on their derivative positions. Before they knew it, their $3 billion equity was wiped off and the Long Term Capital Management (LTCM) was bankrupt leaving other Wall Street firms with over a trillion dollars in counterparty risk and no means to cover it.

  11. How LTCM Approached The Edge of the Abyss - WSJ

    Sept. 11, 2000 12:01 am ET. The 1998 meltdown of Long-Term Capital Management was a singular debacle. Markets around the globe plunged and the financial system itself seemed in peril -- all on ...