They Lost $553 Million in a Single Day: Long Term Capital Management Chapter 2

They Lost $553 Million in a Single Day: Long Term Capital Management Chapter 2

In August 1998 the most brilliant hedge fund in history - Long-Term Capital Management, run by two Nobel laureates and the most feared bond trader on Wall Street... lost $553 million in a single day, a loss its own models called almost impossible. When Russia defaulted on its own currency, every safe bet the fund held began losing at once, and 44% of its capital vanished in a month. The Federal Reserve had to summon Wall Street's 14 biggest banks to put up $3.6 billion and take it over — no taxpayer money. The cruel twist: the trades were right. Within a year they would have made a fortune. The geniuses just couldn't survive long enough to be proven right.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.#LTCM #LongTermCapital #WallStreet #FinancialHistory #Nobel #JohnMeriwether #HedgeFund #1998Crisis #StockMarket #Finance

2 Nobel Laureates. One $1 Trillion Disaster: Long Term Capital Management Chapter 1

In 1994, two future Nobel laureates, a former vice chairman of the Federal Reserve, and the most feared bond trader on Wall Street raised a record $1.25 billion to build the perfect money machine: Long-Term Capital Management. For three years it printed returns of 20%, then 43%, then 41% — until leverage near 28-to-1 and derivative bets approaching $1 trillion turned genius into the most dangerous fund in the world. This is Chapter 1: the rise of the dream team, before the fall.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.#LTCM #LongTermCapital #WallStreet #FinancialHistory #Nobel #JohnMeriwether #MyronScholes #HedgeFund #StockMarket #Finance

The Trader Who Never Lost - Until 2008... Paul Tudor Jones Chapter 2

Paul Tudor Jones spent roughly 25 straight years without a single losing year, averaging nearly 20% annually and returning about 87% in 1990 alone by shorting Japan's collapsing Nikkei. Then 2008 broke the streak — not because he was wrong about the crash, but because his fund was trapped in positions too illiquid to sell, finishing down almost 5% for the first and only time. Along the way he co-founded the Robin Hood Foundation in 1988, whose 2010 gala raised nearly $88 million in a single night with Shakira performing for Lloyd Blankfein and Jamie Dimon. The story of how the man who called Black Monday became Wall Street's conscience.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.#PaulTudorJones #HedgeFund #MacroTrading #WallStreet #StockMarket #FinancialHistory #Investing #Nikkei #RobinHoodFoundation #2008Crash

He Made $100M the Day the Markets Crashed - Paul Tudor Jones Chapter 1

In October 1987, thirty-three-year-old Paul Tudor Jones made an estimated $100 million in a single day as the Dow collapsed 22.6% — the worst one-day percentage drop in its history. Jones and his research director Peter Borish had overlaid the 1980s bull market on 1929 charts and loaded up on put options before Black Monday hit. What the legend leaves out: Borish later admitted he had massaged the data to make the lines fit, and the model actually pointed to the crash arriving in spring 1988. Tudor Investment Corporation still returned 125.9% net of fees for the full year 1987.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.#PaulTudorJones #BlackMonday #1987Crash #HedgeFund #TradingHistory #WallStreet #MacroTrading #StockMarket

The Predator Who Finally Became The Prey - Carl Icahn Chapter 2

In January 2013, Carl Icahn called Bill Ackman 'the crybaby in the schoolyard' live on CNBC — and by 2018, he'd driven Ackman into a $1 billion loss on Herbalife. But in May 2023, short-seller Hindenburg Research published a single report that wiped out over $7 billion of Icahn's market value in hours. The SEC later revealed Icahn had secretly pledged up to 82% of his own company as collateral for personal loans. The man who spent fifty years raiding corporations had finally been raided himself.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio. SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history. #CarlIcahn #WallStreet #BillAckman #Herbalife #HindenburgResearch #ActivistInvestor #HedgeFund #StockMarket #Finance #Investing