| 词条 | JWM Partners |
| 释义 |
JWM Partners LLC was a hedge fund started by John Meriwether after the collapse of Long Term Capital Management (LTCM) in 1998. LTCM was one of the most spectacular failures of Wall Street, leading to a bailout of around $4 billion that was provided by a consortium of Wall Street banks. Meriwether started the company with initial capital of $250 million with loyal quants and traders like Victor Haghani, Larry Hilibrand, Dick Leahy, Arjun Krishnamachar and Eric Rosenfeld. As of April 2008, the company had around $1.6 billion in management.[1] Eric Rosenfeld left to start his own fund. PerformanceThe funds posted gains for several years, but in the first quarter of 2008 posted losses, of 14% in the Global Macro Fund, and 31% in the flagship Relative Value Opportunity bond fund.[1] Together with redemptions, this cut the capital base significantly. MissionThe fund claimed to use the same model as LTCM with more rigorous and better risk management. It also claimed a leverage ratio of 15 to 1. ClosureOn July 7, 2009 it was announced that the fund would be closed after suffering a loss of 44% in the main fund between September 2007 and February 2009.[2] References1. ^1 {{cite news|url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3835160.ece|title=Job cuts at Meriwether hedge fund|date=2008-04-28|accessdate=2008-09-21 | location=London| work=The Times| first=Catherine| last=Boyle}} 2. ^{{cite news| url=https://www.bloomberg.com/apps/news?pid=20601087&sid=aU2YYpahTt0w | work=Bloomberg | title=Meriwether Said to Shut JWM Hedge Fund After Losses (Update2) | date=2009-07-08}} Notes
|title=A Decade Later, John Meriwether Must Scramble Again: LTCM Founder Has Tough Time Stemming Losses at New Funds; A Withdrawal Deadline Nears |url=https://www.wsj.com/articles/SB120658664128767911 |last=Strasburg |first=Jenny |date=2008-03-27 |accessdate=2008-09-21 |work=The Wall Street Journal }}
|url=http://hf-implode.com/ailing/fund_JWMPartnersLLC-RelativeValueOpportunityfund_2008-03-27.html |title=JWM Partners LLC - Relative Value Opportunity fund - relative value |work=The Hedge Fund Implode-o-Meter |date=2008-03-27 |accessdate=2008-09-21 }}
External links{{Hedge funds}}{{Business-stub}} 2 : Hedge fund firms in Connecticut|Companies based in Fairfield County, Connecticut |
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