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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Wyätt Gwyön who wrote (60026)8/15/2006 9:04:44 PM
From: ChanceIsRead Replies (1) of 306849
 
I was being quite facetious. Long Term Capital was the hedge fund which crashed and burned in the fall of 1998. Alan Greenspan personally intervened to keep the international currency markets from going down with it. Either Merton or Scholes was pulling the levers at LTCM. In the words of Tom Wolfe, "They screwed the pooch." Big time.

Read Lowenstein's, "When Genius Failed." Great book. There is still a little area under the probability curve out past 3 sigma. LTCM found that out the hard way.
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