John William Meriwether (born August 10, 1947) is an American hedge fund executive.
John W. Meriwether | |
|---|---|
| Born | August 10, 1947 Chicago, Illinois, United States |
| Occupations | Businessman Financier Racehorse owner |
Education
editMeriwether earned an undergraduate degree from Northwestern University and an M.B.A. degree from the University of Chicago Booth School of Business.[1]
Salomon Brothers
editAfter graduation, Meriwether moved to New York City, where he worked as a bond trader at Salomon Brothers. At Salomon, Meriwether rose to become the head of the domestic fixed income arbitrage group in the early 1980s and vice-chairman of the company in 1988.[2] In 1991, Salomon was caught in a Treasury securities trading scandal perpetrated by a Meriwether subordinate, Paul Mozer. Meriwether was assessed $50,000 in civil penalties.[3]
LTCM
editMeriwether founded the hedge fund Long-Term Capital Management in 1994. The fund collapsed in 1998.[4] The books When Genius Failed: The Rise and Fall of Long-Term Capital Management and Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It detail the events leading up to and following Long-Term Capital Management's demise.[5]
JWM Partners
editA year after LTCM's collapse, in 1999, Meriwether founded JWM Partners LLC. The hedge fund opened with $250 million under management and by 2007 had approximately $3 billion.[6] From September 2007 to February 2009, during the Great Recession, his main fund lost 44%. On July 8, 2009, Meriwether closed the fund.[7]
JM Advisors
editThoroughbred racing
editMeriwether has been an owner of thoroughbred horses for a number of years and is a member of the board of directors of the New York Racing Association (NYRA). He notably campaigned Buckhan, the winner of the 1993 Washington, D.C. International Stakes.[10]
See also
editReferences
edit- ↑ Morgenson, Gretchen (2 October 1998). "John Meriwether: Hedge Fund Wizard or Wall St. Gambler Run Amok?". The New York Times. Retrieved 17 March 2016.
- ↑ "Meriwether Said to Close Hedge Fund". The New York Times. 8 July 2009. Archived from the original on 2019-10-07. Retrieved 2025-08-04.
- ↑ "Reincarnation on Wall Street: Screw-Ups Never Die". Forbes. 23 May 2012. Retrieved 11 January 2018.
- ↑ Sears, Steven (8 July 2017). "A Good Time for Caution in the Markets". Barron's. Retrieved 11 January 2018.
- ↑ Hakim, Danny (22 August 2000). "THE MARKETS: Market Place; Manager of Hedge Fund Fiasco Seeks to Repair His Reputation". The New York Times. Retrieved 20 September 2019.
- ↑ "JWM Partners-Company description-Hoovers". Retrieved 2008-04-11.
- ↑ Jones, Sam (8 July 2009). "Meriwether's JWM Partners winds down flagship fund". Financial Times. Archived from the original on 2022-12-10. Retrieved 11 January 2018.
- ↑ Sam Jones: Meriwether setting up new hedge fund, Financial Times, 22 October 2009
- ↑ SEC Filing for JM Advisors
- ↑ John Meriwether, Richard Leahy - NTRA Archived 2007-10-20 at the Wayback Machine
Further reading
edit- Lowenstein, Roger (2000). When Genius Failed: The Rise and Fall of Long-Term Capital Management. New York: Random House. ISBN 0-375-50317-X.
- Dunbar, Nicholas (2000). Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It. New York: John Wiley & Sons. ISBN 0-471-89999-2.
- Lewis, Michael (1989). Liar's Poker: Rising through the Wreckage on Wall Street. New York: W.W. Norton. ISBN 0-393-02750-3.