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Rt's
There have been some excellent posts explaining just what LTCM did and
did not do to get themselves in trouble. I hope some of you saw the PBS
piece done on LTCM last night. What troubles me are the leverage
numbers. They are absolutely staggering. I mean they had 3.5 billion
dollars and had bets out worth approx. 1025 billion dollars. 300:1
leverage??!! Greenspan said there is no way to regulate these off-shore
funds. And I must believe, with LTCM being considered one of THE top
hedge funds, that there were many other hedge funds following their
lead!! I don't think this is over yet. Am I being paranoid here?
Regards, Harry
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