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To: KeepItSimple who wrote (148286)2/4/2002 11:26:06 AM
From: oldirtybastard  Read Replies (2) | Respond to of 436258
 
saying that is like saying what brought down LTCM is the mere existence of a country called Russia. You can't point to a market condition and blame it for bad risk management and trading methodology.



To: KeepItSimple who wrote (148286)2/4/2002 11:31:22 AM
From: LLCF  Respond to of 436258
 
<THAT is what brought down LTCM. Nothing else.>

Ahem... if you remember that event caused corperate/govy spreads to explode, and LTCM had that spread on HUGE. Lot's of things can cause such a widening, in fact I believe they are as wide today.

DAK



To: KeepItSimple who wrote (148286)2/4/2002 11:36:01 AM
From: Moominoid  Respond to of 436258
 
Yup - I was just confirming the point that LTCM weren't trying to time what finance academics think are random walk processes....


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