Comeuppance for masters of the universe
Article Abstract:
Long-Term Capital Management (LTCM) has been rescued by 15 banks in order to avoid risks from a collapse of the hedge fund. LTCM is headed by John Meriwether and has a number of PhDs as well as two Nobel prize winners among its staff. LTCM effectively functioned as a bank and did not have sufficient capital. LTCM held assets in the form of bonds instead of direct loans, and the bonds turned out to be problematic, which had an instant impact on LTCM. The arrogance of LTCM's business proposition can be seen with hindsight.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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What's its all about?
Article Abstract:
The AITC is seeking to promote investment trusts in the United Kingdom, and the organization's director general, Daniel Godfrey, has secured funding for a projects to encourage retail investment in investment trusts. A multi-media campaign is to begin in Oct 1999, and will be run by Radical Communications. A national poster campaign will account for some 5% of the funds, and there will also be a television advertising campaign. There is no certainty that the problem of discount volatility will be tackled.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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