2min chapter

Risk of Ruin cover image

Inside Long Term Capital

Risk of Ruin

CHAPTER

Introduction

At this point, we know we're going under. Bear Stearns has already informed us they're not going to give us access to any of our positions or cash after Wednesday. By definition, if you can't move cash around, you can't make margin calls, you've gone under. We did not want to be the ones that take down the entire financial system.

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