A $4.5bn hole in the hedge

Article Abstract:

The failure of a hedge fund, Long-Term Capital Management (LTCM), devised by two former professors Mryon Scholes and Robert C. Merton led to a critical situation in 14 investment banks. US Federal Reserve Chairman Alan Greenspan was forced to reduce interest rates to help the financial markets which were also in crisis. The LTCM was based on a mathematical model. It was initially very successful, it grew to $1.6 billion in 1998 from $150 million in 1994. But the economic crisis in Russia during 1998 led to its downfall. As a result the fund lost $4.5 million.

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Loudmouthed Milton man

Article Abstract:

The controversial and outspoken academic Stanley Fish seems to have become quieter since he took over as dean at the College of Liberal Arts and Sciences, University of Illinois, Chicago. IL. Fish has written another book in 2001, which will possibly be his last.

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Yes, boors with BO can make it

Article Abstract:

Satirical advice for academics on how to behave at Christmas parties.

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