John Meriwether
From Wikipedia, the free encyclopedia
John W. Meriwether (born August 10, 1947 in Chicago, Illinois) is an American financial executive on Wall Street seen as a pioneer of fixed income arbitrage.
John Meriwether earned an undergraduate business degree from the Kellogg School at Northwestern University and an MBA degree from the University of Chicago Graduate School of Business.
Meriwether worked as a bond trader at Salomon Brothers where he became the head of the domestic fixed income arbitrage group in the early eighties and the vice-chairman of the company in 1988.
In 1991, after Salomon was caught in a Treasury securities trading scandal, Meriwether paid a 50,000 dollar civil penalty and left the company.
The Long-Term Capital Management hedge fund, founded in 1994 in Greenwich, Connecticut and notoriously collapsed in 1998, was his brainchild.
Meriwether now runs JWM Partners, a Greenwich, Connecticut, hedge fund he started with about 250 million dollars under management in 1999, and with approximately $2.6 billion under management in 2006.
[edit] References
- When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein, ISBN 1-84115-504-7
- Inventing Money: The story of Long-Term Capital Management and the legends behind it by Nicholas Dunbar, ISBN 0-471-49811-4
- Liar's Poker by Michael Lewis, ISBN 0393027503
[edit] External link
- A website [1] that briefly explains the hedging mechanism used by LTCM and how the fund eventually failed.
