Term
Long-Term Capital Management
An American investment fund founded in the 1990s. Its large positions and borrowed money led to a severe crisis during the market turmoil of 1998.
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street, William Poundstone
Explained in
- Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street, William Poundstone
- When Genius Failed: The Rise and Fall of Long-Term Capital Management, Roger Lowenstein
A hedge fund founded by John Meriwether in 1993 that began trading in 1994. In the autumn of 1998 it came close to collapse and was rescued by a group of banks.