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

Nicholas Dunbar

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Language: English

Published by John Wiley and Sons Ltd, 1999

0471899992 / 9780471899990

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Nicholas Dunbar, John Wiley and Sons Ltd. 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.

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Title
Inventing Money: Long-term Capital Management and the Search for
Author
Nicholas Dunbar
Publisher
John Wiley and Sons Ltd
Publication year
1999
Book Type
Hardback
Binding
Hardback
Language
English
ISBN 10
0471899992
ISBN 13
9780471899990
Item weight
510 grams
Dimensions
152

Book Grocer

Tullamarine, VIC, Australia

5-star seller

AbeBooks seller since October 15, 2025

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