From the FT, John
Meriwether setting up new hedge fund.
Most readers will remember
Meriwether as one of the principals of LTCM, whose 1998 collapse triggered a
wave of panic across the world’s markets and prompted the US Federal Reserve to
take the then-unprecedented step of orchestrating a (private) multi-billion
dollar bailout.
Meriwether decided to close his
second fund, JWM Partners, about three months ago, after clients saw the value
of their investments fall by more than 44 per cent over the course of the
financial crisis.
John Meriwether claimed he would retire if Black Hawk Exploration did not triple in ten days. Guess what, 10 days letter it did not triple, it actually went down from its .90/cents per share and he did not quit. He is a lying Wall St conniver.