Sebastian
Mitglied seit 11 Jahre 3 Monate
LTCM: Was macht eigentlich J. W. Meriwether ?
Hallo,
habe gerade das Buch von Roger Lowenstein ausgelesen über LTCM und fand es extrem spannend und gut geschrieben.
Aber was macht eigentlich John Meriwether jetzt? Habe gelesen er hat wieder einen neuen Fund mit zwei bis drei Milliarden unter Verwaltung. Ich konnte aber die Webadresse http://www.jwmp.com nicht anwählen. Weiß jemand ob es den noch gibt?
Gruss Sebastian
Geschrieben von Sebastian
am
@ Sebastian [#1]
ich kan dir leider nicht weiterhelfen.
ich hab da ber mal ne frage...was bedeuten die sterne hinter deinem nick?
@ Geldfuchs [#2]
Steht in der Hilfe. Aber hier die Kurzzusammenfassung:
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@ Sebastian [#3]
Danke sehr! Hab schon lange danach gesucht und nichts gefunden.
Hm bin wohl zu blöd ;-)
Gruss
Geldfuchs
Wenn das stimmt, ist es mal wieder ein schlechter Scherz.
Wer vertraut denn Herrn "es ist alles nicht meine Schuld es war ein Sigma five event" 2,5 Mrd an?!
Da die website nicht funktioniert, hat er die Kohle vielleicht auch schon wieder verzockt.
@ Sebastian [#1]
Schreib doch mal eine Email, oder ruf an: ;-)
JWMP.COM
Administrative Contact, Technical Contact: David, Franklin
http://www.networksolutions.com/whois/results.jsp?domain=jwmp.com
Okay die Frage hat sich erledigt.
Hans (HE96) meinte, dass John Meriwether jetzt bei ihm als Gärtner arbeitet, dann kann er keinen Unsinn mehr anstellen. Das erklärt auch warum die Seite nicht mehr geht.
:)
Gruss Sebastian
Long-Term Capital's Rosenfeld Starts Hedge Fund, Person Says
By Jenny Strasburg
May 9 (Bloomberg) -- Eric Rosenfeld, co-founder of Long- Term Capital Management LP, and two of his former colleagues are starting a hedge fund that uses computers to pick investments, said a person with knowledge of the plan.
Rosenfeld, most recently president of Paloma Partners LLC in Greenwich, Connecticut, reunited with Robert Shustak and Bruce Wilson to open Quantitative Alternatives LLC, said the person, who declined to be identified because the hedge fund isn't trading yet. Shustak was Long-Term Capital's chief financial officer and Wilson was controller.
Long-Term Capital required a $3.5 billion bailout from the world's biggest securities firms and banks that was orchestrated by the New York Federal Reserve Bank in 1998 after $4 billion of losses. Rosenfeld was one of the original partners at Long-Term Capital with John Meriwether, his former boss at New York-based investment bank Salomon Inc.
``Investors are mature enough not to be casting judgments on something that happened nine years ago in a very different environment,'' said Mathieu Klein, chief executive officer of Paris-based investment adviser Darius Capital Partners, which isn't investing in Rosenfeld's new firm. ``They'll have to prove themselves because investors have a lot of alternatives.''
Quantitative Alternatives, based in Rye Brook, New York, is hiring research analysts and traders who make bets on currencies, stocks and bonds using statistical models. Trading may start later this year, said the person, who didn't know how much money the partners have raised.
Rosenfeld, 53, declined to comment.
Investment Experience
Rosenfeld previously was head of fixed-income trading and an executive committee member at Salomon. Following the demise of Long-Term Capital, he helped Meriwether start Greenwich, Connecticut-based JWM Partners LLC before joining Paloma Partners. He also was a professor at Harvard Business School in Boston.
Shustak, 49, most recently was chief operating officer of Strategic Value Partners LLC. The London-based firm, which manages more than $4 billion, was started in 2001 by former Merrill Lynch & Co. managing director Victor Khosla. At Long- Term Capital, Shustak helped develop multistrategy funds and manage firm operations.
Wilson, 46, formerly was president and chief operating officer of Greenwich-based hedge-fund manager Quantitative Financial Strategies Inc., and a managing director at Morgan Stanley.
Other former Long-Term Capital executives to strike out on their own include Myron Scholes, the Nobel Prize-winning economist, who went on to start Rye Brook-based Platinum Grove Asset Management LP. Hans Hufschmid, a former currency trader who was a principal at Long-Term Capital, opened GlobeOp Financial Services LLC, a third-party administrator for hedge funds based in London and New York.
Hedge funds are private, largely unregulated pools of capital whose managers can buy or sell any assets and participate substantially in profits from money invested.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLkNtbN6MEeE&refer=home
Und auch Myron Scholes bekommt mehr zu tun:
Scholes, Nobel Laureate, Seeks Japan Advisory License (Update3)
By Mariko Yasu and Oliver Biggadike
Enlarge Image
Myron Scholes of Platinum Grove Asset Management
June 21 (Bloomberg) -- Myron Scholes, who won a Nobel prize for developing the model used to value options, is seeking a license to advise Japanese pension funds after opening an office in the country.
``We have an application in to Japanese regulators for a discretionary fund management license to enable us to allocate pension fund money in our fund or other alternative investments,'' Scholes, 65, said in an interview in Tokyo yesterday.
Banks and pension funds in Japan, the world's second-largest economy, are increasing their investments in hedge funds and buyout funds to improve returns in a country where bond yields are less half of those in the U.S.
Japan's national pension fund, which manages about 111 trillion yen ($898 billion), said last week it will consider investing in alternative assets, such as real estate investment trusts, hedge funds and commodities.
``Asset management companies are interested in whether we are going to start alternative investments because there is more profit opportunity than in passive funds,'' said Takahiro Kawase, president of Japan's Government Pension Investment Fund, in a June 11 interview.
Black-Scholes Model
Scholes' Platinum Grove Asset Management, based in Rye Brook, New York, manages about $4.5 billion, he said. About 10 percent of its funds come from Japanese investors. Its Japanese arm, which has nine employees, started in Tokyo in November and was registered as a securities investment adviser in March, according to documents provided by the company.
The firm's Platinum Grove Contingent Capital Fund has an average annual return of 9.4 percent after fees, Scholes said.
Scholes and Robert Merton won the Nobel Prize for economics in 1997 for their work in valuing options. Together with the late Fischer Black, they developed the Black-Scholes model of pricing options, or contracts that give the buyer the right but not the obligation to purchase a security or commodity at a later date for a specified price. Black died in 1995 at age 57.
Before he set up Platinum, Scholes was a partner at Long- Term Capital Management LP, which collapsed in September 1998 as bets it made in world bond markets went awry.
Russia's default and devaluation, a rush to the safety of U.S. Treasury securities and declining stock prices turned Long- Term Capital's investments -- most of them made with borrowed funds -- into money-losers. Scholes left Long-Term Capital in early 1999.
Baby Boomers
Japanese baby boomers, those born in the late 1940s, will receive 85 trillion yen of retirement funds in the five years starting this year, according to a forecast by Nomura Holdings Inc. That compares with 800 billion yen of retirement funds paid out in fiscal 2006, it said.
Nomura estimates about 60 percent of those assets, or 51 trillion yen, will be invested in financial instruments, 30 percent will be used to repay debts and 10 percent will go to short-term expenditures.
``There already are a number of investors in Japan putting money in hedge funds,'' said Akira Takei, who helps manage $10.6 billion in assets at Fuji Investment Management Co. in Tokyo. ``Many of them are not quite comfortable about the performance.''
Hedge funds returned an average 13 percent globally in 2006, lower than the 15.8 percent including dividends returned by the Standard & Poor's 500 Index, according to Hedge Fund Research Inc. in Chicago. It was the biggest gain since 2003, when the private- investment pools gained 19.6 percent.
Derivatives
Derivatives will likely used by more companies including coffee-shop chain Starbucks Corp. to reduce business risks such as changes in the price of commodities or exchange-rate fluctuations, Scholes said.
``Starbucks has to sell coffee,'' he said. ``They can hedge the risk of coffee beans, they can hedge the risk of the yen versus the dollar, they can hedge the risk of interest rates in their borrowing.''
Derivatives are financial instruments derived from stocks, bonds, loans, currencies and commodities, or linked to specific events like changes in the weather or interest rates.
Lowering such risks also means companies will need to sell less equity as a buffer against any losses, Scholes said.
``You can economize on the amount of equity you need to run your business,'' Scholes said. Equity is an ``all-purpose risk cushion'' and ``expensive,'' while derivatives let companies shift specific risks to capital markets more cheaply, he said.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a5p8n2xWuqx4&refer=exclusive
JWM-Fonds schließt nach Horrorverlust
Boerse.ARD.de / kle (08.07.09) - Einst galten die Fonds von John Meriwether als Geniestücke eines Finanzmagiers. Mit LTCM ging der Fondsmanager 1998 spektakulär pleite.
(Quelle und ausführlich weiter lesen: http://www.boerse.ard.de/content.jsp?key=dokument_361892)
@ Richard Ebert [#10]
Pleite geht der Fonds (LTCM) dennoch nicht. Weil ein Kollaps des Fonds möglicherweise das Zusammenbrechen der internationalen Finanzmärkte bedeutet hätte, wird er gerettet.
Hätte man LTCM doch Pleite gehen lassen, die Fianzmärkte wären zusammengebrochen, ...
Die Fallhöhe wäre noch nicht so gross gewesen. Und wir hätten alles, was uns noch bevorsteht, vielleicht schon hinter uns und könnte jetzt zuversichtlich in die Zukunft schauen. :-)