Magazine

Table: What Holds John Meriwether Back


The legendary bond trader and founder of Long-Term Capital Management is back in business as JWM Partners. But he is finding it hard to raise money

LOST LAUREATES

His Nobel prize-winning partners Myron Scholes and Robert Merton are gone, hurting marketing to investors

CREDIBILITY GAP

Potential investors still worry that the new firm will not disclose all the risks involved in its trading

TARNISHED NAME

The stigma from the near-collapse of LTCM persists, deterring many potential investors

COPYCATS

Competitors now know how to duplicate his trading strategies, limiting profit potential

LESS LEVERAGE

With investors and lenders wary of the risks, JWM is limiting its leverage to about 12 times its capital and crimping its profits possibilities

Data: BusinessWeek


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