LTCM's John Meriwether Shuts Fund After Huge Losses

John Meriwether

Genius failed, again.

John Meriwether, most famous for the Long-Term Capital Management blowup, is shutting his main fund at JWM Partners LLC.

According to Bloomberg, the fund lost 44% between September 2007 and February 2009 — which was also the time when it was reported that Meriwether was set to launch a new fund. That’s the whole thing with hedge funds.

Rather than biding your time, compensation-free, trying to get your nostril above water, why not just start a new one?

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