John Meriwether was responsible for one of the world's largest hedge fund collapses.
Meriwether, founder of Long Term Capital Management that collapsed in 1998. The company lost $4 billion and created panic across global markets.
Meriwether, runs JWM Partners which is facing tough times again with his largest fund losing 28 per cent of its value this year.
After graduation, Meriwether moved to New York City, where he worked as a bond trader at Salomon Brothers.
At Salomon, Meriwether rose to become the head of the domestic fixed income arbitrage group in the early 1980s and vice-chairman of the company in 1988. In 1991, after Salomon was caught in a Treasury securities trading scandal, Meriwether was slapped with a $50,000 civil penalty.
Image: John Meriwether
Also read: This IIT-ian has dedicated his life to rural folk
| Live updates on money.rediff.com |
|
Advertisement
