The Cliff Snote's Version of LTCM

LTCM sent 2.7 billion back to investors at the end of 1997, and then just 10 months later, they were basically out of business. Warren Buffett made some comments about the incident in October of 1998. LTCM had positive returns over the life of the fund, including the losses in 1998. Only 10 investors lost money, and only 5 investors lost more than I think like $5 million.