The Trillion Dollar Bet

In 1973, three brilliant economists, Fischer Black, Myron Scholes, and Robert Merton, discovered a mathematical Holy Grail that revolutionized modern finance. The elegant formula they unleashed upon the world was sparse and deceptively simple, yet it led to the creation of a multi-trillion dollar industry. Their bold ideas earned Scholes and Merton a Nobel Prize (Black died before the prize was awarded) and attracted the elite of Wall Street.

In 1993, Scholes and Merton joined forces with John Meriweather, the legendary bond trader of Salomon Brothers. With 13 other partners, they launched a new hedge fund, Long Term Capital Management, which promised to use mathematical models to make investors tremendous amounts of money. Their money machines reaped fantastic profits, until their theories collided with reality, and sent the company spiraling out of control. The crisis threatened to bring markets around the world to the brink of collapse.

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• LTCM

[spyknife]

Anyone think George Soros is also running a PONZI scheme, similar to that of madoff ?

[xadam2dudex]

this is what the US should do refuse to pay it's international debt and close down the Federal Reserve and refuse to pay the debt to those crooks as well

[43894674126438564036]

Nobody knew why Thailand went crazy? Only a total asshole would say this. What a bastard. We all know. We also know what Goldman sachs did to Japan WHILE THE TSUNAMI WAS KILLING EVERYONE, which the world bank spanked them for. You sick fuckers.

[camusblowers]

1:45 I hope this works

[49fiori]

@spyknife of course not you idiot and idiots that liked your idiotic comment.

[Maxpow33r]

playin galphh

[MultipleS2002]

@spyknife if so, he's a smarter manager.... he managed not to get caught yet, and retire before anything would be brought up against him

[lvgcoolman13]

We need more talented financial mathematicians

[benjiheads]

George Soros is king

[SynisterMustang]

centsports . com/ref/282387/Dan_L

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