Day: November 10, 2024
When genius failed: the rise and fall of Long-Term Capital Management
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. A mysterious and shy midwesterner, he knitted together a group of Ph.D.-certified arbitrageurs who rewarded him with filial devotion and fabulous profits.Then, in 1991, in the wake of […]