Insights: Margin Spiral

Insights: Margin Spiral

View in PDF Form Modern Version of “Long-term Capital” (LTCM)A highly leveraged hedge fund that failed in 1998 The collapse of a “relative-value” hedge fund strategy likely resulted in a spiraling of market dislocations, margin calls, and forced liquidations of...
The FOCUS Newsletter: April 2020

The FOCUS Newsletter: April 2020

 The world is different now than it was three months ago. It was also different after 9-11. A week after 9-11, the financial markets in the U.S. reopened. One week after that, the market bottomed. It felt bad, there was great uncertainty, a war was starting, and there...