Inventing Money: Long-term Capital Management and the Search for

Inventing Money: Long-term Capital Management and the Search for

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LTCM (Long-Term Capital Management) - a portmfolio of bonds worth $100 billion - owned 5% of the global interest rate swap market plus other derivatives, it had a notional value of $1 trillion. The people involved in the LTCM were the "dream team": Robert Merton and Myron Scholes (both Nobel Prize winners for their work on option pricing), John Meriwether (the former vice-chairman of Salomon Brothers and one-time Wall Street star of bond trading), and David Mullins (ex-Harvard Business School Professor and previously vice-chairman of the Federal Reserve). Even with all this financial expertise, in September 1998, LTCM collapsed, making financial headline news across the world and requiring 14 investment banks to provide $3.6 billion in cash to stop the fund going under and dragging each of them down as well.

Author: Nicholas Dunbar
Format: Hardback, 262 pages, 152mm x 229mm, 510 g
Published: 1999, John Wiley and Sons Ltd, United Kingdom
Genre: Finance & Accounting

Vendor: Secondhand Stock
SKU: 9780471899990-SECONDHAND
Categories: All Best Sellers - Individual titles newsystem in stock Only One Copy Second-hand Books
Tags: Finance and the finance industry Hardback January-2026 NewSystem Secondhand
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Description
LTCM (Long-Term Capital Management) - a portmfolio of bonds worth $100 billion - owned 5% of the global interest rate swap market plus other derivatives, it had a notional value of $1 trillion. The people involved in the LTCM were the "dream team": Robert Merton and Myron Scholes (both Nobel Prize winners for their work on option pricing), John Meriwether (the former vice-chairman of Salomon Brothers and one-time Wall Street star of bond trading), and David Mullins (ex-Harvard Business School Professor and previously vice-chairman of the Federal Reserve). Even with all this financial expertise, in September 1998, LTCM collapsed, making financial headline news across the world and requiring 14 investment banks to provide $3.6 billion in cash to stop the fund going under and dragging each of them down as well.