Roger Lowenstein, Author: "When Genius Failed"
Alpha Exchange
00:00
The Origins of LTCM
Merrill Lynch was founded by Martin Shulls, who later went on to win the Nobel Prize for Economics. The firm raised $4 billion in three years and made a third of that at the end of 1997. Buffett: LTCM realized making a profit now is your future opportunity. But he says there's no limit to how high it could go - just like with oil or stocks.
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