Greg Hawkins' House
By jdubble07 @ 2012-01-05 12:46:27
Greg Hawkins was a trader and principal in the hedge fund Long-Term Capital Management that after four spectacularly successful years lost most of its clients' money in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian ruble. Long-Term Capital had $4.6 billion in portfolio losses in a few months and only avoided outright bankruptcy because the U.S. central bank prompted a consortium of large global investment banks and counterparties of LTCM to provide an equity bailout. LTCM shutdown in early 2000.
10.0 (4 votes)