Introduction to LTCM
1994, John Meriwether, the famed bond trader from
Salomon Brothers founded a hedge fund called Long-Term Capital Management
Like all US hedge funds, LTCM was an unregistered private
investment limited partnership (LP) with very few reporting and regulatory controls on it apart from normal auditing
LTCM's main strategy -> make convergence trades.
rescue, owing $58.3 billion of financial aid. As shown in table 1 and 2 in the appendix 1, Korea had performed continual rapid GDP growth at the rate of 7.8 percent per year in average from 1960 to 1997. Then, what had happened to Korea, and why did the nation have to face the IMF crisis in 1997 all of a sudden? To see what the causes for the crisis were, analyses from six essays of scholars and
certain theyve been
captured by the guerrillas.
Schaefer looks up, puffing lightly on the cigar.
SCHAEFER
(quietly)
What have you got in mind,
General.
(CONTINUED)
------------------------------------------------------------------------
4
3 CONTINUED: (2) 3
PHILIPS
We figure weve got less than
twenty-four hours to catch
up with them. After that,
theres not much hope. We
want a rescue operati
rescued the footage from the studio garbage! Can you
believe that?
(Latke stands, fans cheer)
Now for the moment youve all been waiting for... The intrepid
crew of the
NSEA PROTECTOR!
But a STAGEHAND in the wings signals for Guy to "stretch."
GUY
But first... What is a "hero"? Lets take a look at a few more
clips...
4 BACKSTAGE
Here we meet the REAL LIFE ACTORS all dressed as their TV alter
egos.
theyve been
captured by the guerrillas.
Schaefer looks up, puffing lightly on the cigar.
SCHAEFER
(quietly)
What have you got in mind,
General.
(CONTINUED)
------------------------------------------------------------------------
4
3 CONTINUED: (2) 3
PHILIPS
We figure weve got less than
twenty-four hours to catch
up with them. After that,
theres not much hope. We
want a rescue operation
mounted