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Larry Hilibrand, Long-Term Capital’s top trader, was once worth close to a half-billion dollars, but, having borrowed to invest even more in the fund, he lost it all.
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 ]
Another partner, Larry Hilibrand, began betting on company mergers to create and close spreads in stocks. Both began taking enormously leveraged positions in these bets.
Jan 1, 2001 · "Larry Hilibrand, the most cocksure of traders, who had previously been worth close to half a billion dollars, awoke to discover that he was broke," writes Lowenstein. In fact, he was $24 million in debt.
When Genius Failed: The Rise and Fall of Long-Term Capital Management is a book by Roger Lowenstein published by Random House on October 9, 2000. The book tells an unauthorized account of the creation, early success, abrupt collapse, and rushed bailout of Long-Term Capital Management (LTCM).
Larry Hilibrand (born circa 1959 ) is a mathematically-inclined arbitrage trader with two degrees from MIT. He was the top-paid arbitrage trader at Salomon Brothers in 1992 and at the time the youngest managing director in Salomon Brothers history and hence was nicknamed the "teenage" managing director
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May 2, 2006 · If we follow the book "When genius failed", the main players were Victor Haghani and Larry Hilibrand.
