Long-Term Capital Management

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A defunct hedge fund, established in 1993, that, at its height, held positions worth more than $1 trillion. Its investment strategy was to take advantage of arbitrage opportunities in bonds and other fixed-income securities; profits on individual transactions were small, so LTCM was required to borrow massive amounts of money in order to operate. It was at first enormously successful, with a 40% annualized return after fees. However, when Russia defaulted on its government bonds in 1998, there was a steep drop in bond prices, endangering LTCM's positions because of its high leverage. Because LTCM controlled upwards of 5% of the bond market at the time, defaulting on its loans would have caused global financial panic. It was eventually bailed out by a consortium of organizations under the supervision of the Federal Reserve.

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No references found			And as you remember, [Obama's chief economic adviser, Larry] Summers helped bail out Long-Term Capital Management years ago. JIM ROGERS DOESN'T MINCE WORDS ABOUT THE CRISIS by Maria Bartiromo / BusinessWeek Citigroup in November said Richard Stuckey, who helped stabilize hedge fund Long-Term Capital Management, was going to fix its troubled subprime mortgage portfolio. Merrill Lynch to shed bad assets by Gulf Daily News (Manama, Bahrain) John Meriwether, founder of the hedge fund Long-Term Capital Management which imploded at the end of the 90s, has run into trouble with his latest business. Hedge fund guru in trouble again by guardian.co.uk / guardian.co.uk			Long Coupons Long end duration Long end of the yield curve Long Hedge Long Jelly Roll Long Leg Long Market Value Long only portfolio Long Position Long Position in an Option Long Rate Long Run Long Run Incremental Cost Long short portfolio Long Shot Long Squeeze Long Straddle Long Term Long-Range Budget Long-Term Long-Term Anticipation Securities Long-Term Assets Long-Term Bond long-term capital gain Long-Term Capital Gains and Losses Long-Term Capital Management Long-Term Care Long-Term Care Insurance Long-Term Contract long-term debt Long-Term Debt Ratio Long-Term Debt to Capitalization Ratio Long-Term Debt-to-Equity Ratio Long-term debt/capitalization Long-Term Debt/Capitalization Ratio Long-Term Equity Anticipation Securities Long-Term Financial Plan Long-Term Financing Long-Term Forward Contract Long-Term Forward Contracts Long-Term Gain Long-Term Goals Long-Term Interest Rate Long-Term Investing Long-Term Investor Long-Term Lease Long-Term Liabilities Long-Term Liability long-term loss Long-Term Moving Average Long-Term Prime Rate			Long-Term Anticipation Securities Long-Term Archive and Notary Services Long-Term Archive and Notary Services Working Group Long-term asset Long-term asset Long-term assets Long-term assets Long-Term Astigmatic Drift Long-Term Average Failure Intensity Long-Term Average Spectrum Long-Term Bond Long-Term Bonds Long-Term Bone Marrow Long-Term Bone Marrow Cultures Long-Term Brands Long-Term Bridge Performance Long-Term Budget Long-Term Budgets Long-Term Business Plan Long-Term Buy & Hold Long-Term Capital Appreciation Pool Long-term capital gain Long-Term Capital Gains Long-Term Capital Gains and Losses Long-term capital loss Long-Term Capital Losses Long-Term Capital Management Long-Term Capital Management LP Long-term care Long-term care Long-term care Long-term care Long-term care Long-term care Long-Term Care Administration Long-Term Care Facilities Long-Term Care Facilities Long-Term Care Facilities Long-Term Care Facilities Long-Term Care Facilities long-term care facility long-term care facility long-term care facility long-term care facility long-term care facility Long-Term Care Group Specialist Long-Term Care Initiative Long-term care insurance Long-Term Care Linked Insurance Long-Term Care Nursing Facility Long-Term Care Partnership Long-Term Care Physicians Section Long-Term Care Quote Long-Term Care Rider Long-Term Care Riders Long-Term Care Savings Plan Long-Term Care Security Act

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