Lessons of the Fall: LTCM's Meriwether May Rise Again

It's been 366 days since a group of major banks rescued Long Term Capital Management, and one imagines its founder John Meriwether scratching off each day on the walls of his mind the way a prisoner would mark the passing of a jail sentence.

The past year must've seemed like hard time for Meriwether, a former Salomon Brothers vice chairman and the mastermind behind the hedge fund that at its zenith managed $7.5 billion and at its nadir was considered a threat to the stability of global financial markets.

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