Upcoming Review
25 years ago, on September 23, William McDonough, President of the Federal Reserve Bank of New York, gathered top officials from sixteen of the world’s most powerful banks and investment houses into a room and told them to find a solution to the mess Long-Term Capital Management (LTCM), was in. This was a pivotal event in financial history.
I would love to offer you an exclusive opportunity to glean insights from two distinguished financial experts, Victor Haghani and James White. Victor Haghani, a former Managing Director at Salomon Brothers during the influential era of the 1980s and 90s and one of the founders of LTCM, joins forces with James White as co-authors of the eagerly anticipated book, The Missing Billionaires: A Guide to Better Financial Decisions (Wiley, September 6, 2023). The book not only delves into the intricacies of LTCM but also marks the inaugural presentation of a partner’s perspective on this historic event, adding a unique layer of insight to its legacy.
In 1998, the Federal Reserve’s unprecedented intervention to rescue LTCM set a precedent for crisis management, reshaping Wall Street’s perception and fostering a belief that major market declines could be mitigated. The then-chairman, Alan Greenspan, established an unwritten pact with Wall Street to prevent further market turmoil.
Victor and James are available to provide expert analysis and thoughtful commentary on a range of subjects related to LTCM, including:
- The Long-Term Capital Management Legacy: Reflecting on the impact of LTCM’s rescue on modern financial practices and policies.
- Moral Hazard and Risk-Taking: Discussing the ongoing debate surrounding interventions, moral hazard, and its influence on market behavior.
- Federal Reserve’s Role: Analyzing the effectiveness of the Fed’s interventions and their implications for future financial crises.
- Lessons from History: Exploring the parallels between LTCM’s rescue and subsequent financial bailouts, including the 2007-10 subprime mortgage crisis.
- Future of Financial Stability: Examining the potential consequences and challenges as we approach the 25-year mark of LTCM’s rescue.
Let me know if you would like me to put you in touch with Victor Haghani and/or James White, or if you would like me to send you a copy of The Missing Billionaires. Thanks for your consideration.
Best,
Nicole
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Nicole Baker, Publicist, Smith Publicity, Inc.
Promoting authors, experts, and publishers since 1997!
Nicole.Baker@SmithPublicity.com • 856-489-8654 x1008 • www.SmithPublicity.com
Victor Haghani has 40 years’ experience working and innovating in the financial markets, and has been a prolific contributor to academic and practitioner finance literature. He founded Elm Wealth in 2011 to help clients, including his own family, manage and preserve their wealth with a thoughtful, research-based, and cost-effective approach that covers not just investment management but also broader decisions about wealth and finances. Victor started his career at Salomon Brothers in 1984, where he became a Managing Director in the bond-arbitrage group, and in 1993 he was a co-founding partner of Long-Term Capital Management. He lives in London and Jackson Hole, Wyoming.
James White has spent two decades working in finance, covering the gamut of quantitative research, market-making, investing, and wealth management. He is currently the CEO of Elm Wealth, and previously has held research, trading, and executive roles at PAC Partners, Citadel, and Bank of America. He lives in Philadelphia.
CONNECT
Website: Victor Haghani Linkedin: Victor Haghani TEDx Talk: Where are all the Billionaires and Why Should We Care?
Thank you,
Glenda, Charlie and David Cates
