JWM Partners

JWM Partners

JWM Partners LLC is a hedge fund started by John Meriwether after the collapse of Long Term Capital Management (LTCM) in 1998. LTCM was one of the most spectacular failures of wall street leading to a federally organized bailout of around $4bn. Meriwether started the company with initial capital of $400 million with loyal quants and traders like Victor Haghani, Dick Leahy, Arjun Krishnamachar and Eric Rosenfeld. As of April 2008, the company has around $1.6 billion in managementcite news
url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3835160.ece
title=Job cuts at Meriwether hedge fund
date=2008-04-28
accessdate=2008-09-21] with 51 employees.Fact|date=September 2008 Eric Rosenfeld has since left to start his own fund.

Performance

The funds posted gains for several years, but in the first quarter of 2008 posted losses, of 14% in the Global Macro Fund, and 31% in the flagship Relative Value Opportunity bond fund. Together with redemptions, this cut the capital base significantly.

Mission

The fund claims to use the same model as LTCM with more rigorous and better risk management. It also claims to have a leverage ratio of 10 to 1.

References

* cite news
title=A Decade Later, John Meriwether Must Scramble Again: LTCM Founder Has Tough Time Stemming Losses at New Funds; A Withdrawal Deadline Nears
url=http://online.wsj.com/article/SB120658664128767911.html
last=Strasburg
first=Jenny
date=2008-03-27
accessdate=2008-09-21
* cite web
url=http://hf-implode.com/ailing/fund_JWMPartnersLLC-RelativeValueOpportunityfund_2008-03-27.html
title=JWM Partners LLC - Relative Value Opportunity fund - relative value
work=The Hedge Fund Implode-o-Meter
date=2008-03-27
accessdate=2008-09-21

External links

*http://www.hoovers.com/jwm-partners/--ID__61105--/free-co-factsheet.xhtml2. cite book |title= Inventing Money|last= Dunbar|first= Nicholas|authorlink= Dunbar, Nicholas|year= 2000|publisher= John Wiley & Sons|location= New York|isbn= 0-471-89999-2


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