Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Hedge Funds -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (41)	10/15/1998 12:00:00 PM
From: Marty Rubin	Respond to of 120

Friday October 9, 7:02 pm Eastern Time LTCM did U.S. a disservice -- former Soros manager CHICAGO, Oct. 9 (Reuters) - A former Soros Fund managing director said on Friday that the troubled hedge fund Long-Term Capital Management (LTCM) hurt the United States by raising doubts about the country's financial market system. ''(LTCM founder) John Meriwether did the United States a real disservice,'' Robert Johnson told a conference on the Asia crisis organized by the Federal Reserve Bank of Chicago. "The scale (of the damage) to the U.S. and U.S.-type system is very, very large. ''The United States is becoming quite isolated...Other countries...are not quite in love with markets as we are.'' Johnson expressed surprise that Meriwether remained at LTCM after his firm was rescued on September 23 by 14 financial institutions with an oversight committee to run the hedge fund. ''(Investor) Warren Buffet would have fired him,'' Johnson said, referring to Buffet's offer this summer to buy LTCM. Johnson also forecast a marked U.S. economic slowdown in 1999, as well as a deepening of the recession in Japan, in part due to the financial turmoil now affecting many countries. (http://biz.yahoo.com/rf/981009/bfb.html)

To: Marty Rubin who wrote (41)	10/15/1998 12:00:00 PM
From: Marty Rubin	Respond to of 120

Friday October 9, 7:15 pm Eastern Time CORRECTED - LTCM did U.S. a disservice -- former Soros manager In Chicago story ''LTCM did U.S. a disservice -- former Soros manager'' the sixth paragraph should read ''(Investor) Warren Buffett...'' (correcting spelling of name from Buffett) A corrected repetition follows. CHICAGO, Oct. 9 (Reuters) - A former Soros Fund managing director said on Friday that the troubled hedge fund Long-Term Capital Management (LTCM) hurt the United States by raising doubts about the country's financial market system. ''(LTCM founder) John Meriwether did the United States a real disservice,'' Robert Johnson told a conference on the Asia crisis organized by the Federal Reserve Bank of Chicago. "The scale (of the damage) to the U.S. and U.S.-type system is very, very large. ''The United States is becoming quite isolated...Other countries...are not quite in love with markets as we are.'' Johnson expressed surprise that Meriwether remained at LTCM after his firm was rescued on September 23 by 14 financial institutions with an oversight committee to run the hedge fund. ''(Investor) Warren Buffett (corrects) would have fired him,'' Johnson said, referring to Buffett's offer this summer to buy LTCM. Johnson also forecast a marked U.S. economic slowdown in 1999, as well as a deepening of the recession in Japan, in part due to the financial turmoil now affecting many countries. (http://biz.yahoo.com/rf/981009/bft.html)

To: Marty Rubin who wrote (41)	10/15/1998 12:03:00 PM
From: Marty Rubin	Respond to of 120

"Morgan Stanley gave $300 mln to LTCM in September" Wednesday October 14, 10:22 pm Eastern Time Morgan Stanley gave $300 mln to LTCM in September WASHINGTON, Oct 14 (Reuters) - Morgan Stanley Dean Witter & Co, one in a consortium of 14 financial institutions that last month bailed out Long-Term Capital Management LP with a $3.625 billion capital infusion, said on Wednesday it invested $300 million in September. Morgan's objectives in the three-year investment in Long Term Capital Portfolio L.P. ''are to continue active management of its positions and ... to reduce excessive risk exposures and leverage, return capital ... and ultimately realize the potential value of the LTCP portfolio.'' Morgan revealed its investment in its quarterly report filed with the Securities and Exchange Commission. The other 13 firms in the consortium are Bankers Trust Corp. (NYSE:BT - news), Barclays Bank Plc (quote from Yahoo! UK & Ireland: BARC.L), Chase Manhattan Corp. (NYSE:CMB - news), Credit Suisse , Deutsche Bank AG (quote from Yahoo! UK & Ireland: DBKG.F), Goldman Sachs Group LP, Lehman Brothers Holdings Inc. (NYSE:LEH - news), Merrill Lynch and Co. Inc. (NYSE:MER - news), J.P. Morgan & Co. Inc. (NYSE:JPM - news), Paribas , Societe Generale , Travelers Group Inc. (NYSE:CCI - news) and UBS AG . (http://biz.yahoo.com/rf/981014/bys.html) (http://quote.yahoo.com/q?s=bt+cmb+cci+jpm+leh+mer&d=t)