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Inventing Money
Nicholas Dunbar
其他書名
The Story of Long-Term Capital Management and the Legends Behind It
出版Wiley, 2000
主題Business & Economics / GeneralBusiness & Economics / Economic HistoryBusiness & Economics / Finance / GeneralBusiness & Economics / Investments & Securities / GeneralBusiness & Economics / Investments & Securities / StocksBusiness & Economics / Economics / TheoryBusiness & Economics / Corporate & Business History
ISBN04718999929780471899990
URLhttp://books.google.com.hk/books?id=RffRAAAAIAAJ&hl=&source=gbs_api
註釋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.