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5min chapter
Roger Lowenstein, Author: "When Genius Failed"
Alpha Exchange
The Importance of Spread Trading in the Financial World
LTCM, the hedge fund Maryweather at some of his pals from Solomon and some others founded in 1994, was loaded with spread trades into the billions. He had basically consistently made money betting on spreads to narrow, betting that the warriors in the financial world were requiring a little too much of a premium for risky bets. The book also talks about Maryweather's late days at Solomon Brothers, the Paul Moser, Bond scandal. And you also really focus on Maryweather himself and just the impact that that had, just kind of being pushed out of Solomon Brothers and maybe some bitterness towards that experience.
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