John W. Meriwether | |
|---|---|
| Born | August 10, 1947 Chicago, Illinois, United States |
| Occupation(s) | Businessman Financier Racehorse owner |
John William Meriwether (born August 10, 1947) is an American hedge fund executive.
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The Limits Of Math - Long Term Capital Management (LTCM)
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Long Term Capital Management and the Role of the Federal Reserve
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Education
Meriwether earned an undergraduate degree from Northwestern University and an MBA degree from the University of Chicago Booth School of Business.[1]
Salomon Brothers
After graduation, Meriwether moved to New York City, where he worked as a bond trader at Salomon Brothers. At Salomon, Meriwether rose to become the head of the domestic fixed income arbitrage group in the early 1980s and vice-chairman of the company in 1988.[2] In 1991, Salomon was caught in a Treasury securities trading scandal perpetrated by a Meriwether subordinate, Paul Mozer. Meriwether was assessed $50,000 in civil penalties.[3]
LTCM
Meriwether founded the hedge fund Long-Term Capital Management in 1994. The fund collapsed in 1998.[4] The books When Genius Failed: The Rise and Fall of Long-Term Capital Management and Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It detail the events leading up to and following Long-Term Capital Management's demise.[5]
JWM Partners
A year after LTCM's collapse, in 1999, Meriwether founded JWM Partners LLC. The hedge fund opened with $250 million under management and by 2007 had approximately $3 billion.[6] The Financial crisis of 2007-2009 badly battered Meriwether's firm. From September 2007 to February 2009, his main fund lost 44 percent. On July 8, 2009, Meriwether closed the fund.[7]
JM Advisors
Meriwether opened his third hedge fund, named JM Advisors Management, in 2010.[8] The fund is expected to use similar strategies as both LTCM and JWM, namely highly leveraged "relative value arbitrage". By March 2011, however, the JM Advisors Macro Fund had raised only $28.85 million. [9]
Thoroughbred racing
Meriwether has been an owner of thoroughbred horses for a number of years and is a member of the board of directors of the New York Racing Association (NYRA). He notably campaigned Buckhan, the winner of the 1993 Washington, D.C. International Stakes.[10]
See also
References
- ^ Morgenson, Gretchen (2 October 1998). "John Meriwether: Hedge Fund Wizard or Wall St. Gambler Run Amok?". The New York Times. Retrieved 17 March 2016.
- ^ "Meriwether Said to Close Hedge Fund". Dealbook. 8 July 2009. Retrieved 20 September 2019.
- ^ "Reincarnation on Wall Street: Screw-Ups Never Die". Forbes. 23 May 2012. Retrieved 11 January 2018.
- ^ Sears, Steven (8 July 2017). "A Good Time for Caution in the Markets". Barron's. Retrieved 11 January 2018.
- ^ Hakim, Danny (22 August 2000). "THE MARKETS: Market Place; Manager of Hedge Fund Fiasco Seeks to Repair His Reputation". The New York Times. Retrieved 20 September 2019.
- ^ "JWM Partners-Company description-Hoovers". Retrieved 2008-04-11.
- ^ Jones, Sam (8 July 2009). "Meriwether's JWM Partners winds down flagship fund". Financial Times. Archived from the original on 2022-12-10. Retrieved 11 January 2018.
- ^ Sam Jones: Meriwether setting up new hedge fund, Financial Times, 22 October 2009
- ^ SEC Filing for JM Advisors
- ^ John Meriwether, Richard Leahy - NTRA Archived 2007-10-20 at the Wayback Machine
Further reading
- Lowenstein, Roger (2000). When Genius Failed: The Rise and Fall of Long-Term Capital Management. New York: Random House. ISBN 0-375-50317-X.
- Dunbar, Nicholas (2000). Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It. New York: John Wiley & Sons. ISBN 0-471-89999-2.
- Lewis, Michael (1989). Liar's Poker: Rising through the Wreckage on Wall Street. New York: W.W. Norton. ISBN 0-393-02750-3.
External links
- Case Study: Long-Term Capital Management
- Meriwether and Strange Weather: Intelligence, Risk Management and Critical Thinking
This page was last edited on 26 February 2024, at 14:49