Long Term Capital Management - When Genius Failed (Myth20c - Ep289)
In 1998, Long Term Capital Management received a $3.6 billion bailout from a private consortium of Wall Street banks. This amount, while staggering to most, belied an even greater $1 trillion in notional liability LTCM was facing if circumstances had worsened. What led to the firm’s insolvency was a confluence of extreme events in the […]
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