Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Victor Higani

๐Ÿ‘ค Speaker
108 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
The rise and fall of Long Term Capital Management

It was like, we've got to raise this capital fast. You know, otherwise there's no, you know, this is this is not going to end well.

Planet Money
The rise and fall of Long Term Capital Management

So we went out to all these people that were begging to invest with us and said, OK, here you go. Here's your big opportunity.

Planet Money
The rise and fall of Long Term Capital Management

So we went out to all these people that were begging to invest with us and said, OK, here you go. Here's your big opportunity.

Planet Money
The rise and fall of Long Term Capital Management

So we went out to all these people that were begging to invest with us and said, OK, here you go. Here's your big opportunity.

Planet Money
The rise and fall of Long Term Capital Management

People would say. I'll give you $200 million, but only if you raise $3 billion. I don't want to give you $200 million if you only raise $500 million. That's not going to be enough for you to survive this.

Planet Money
The rise and fall of Long Term Capital Management

People would say. I'll give you $200 million, but only if you raise $3 billion. I don't want to give you $200 million if you only raise $500 million. That's not going to be enough for you to survive this.

Planet Money
The rise and fall of Long Term Capital Management

People would say. I'll give you $200 million, but only if you raise $3 billion. I don't want to give you $200 million if you only raise $500 million. That's not going to be enough for you to survive this.

Planet Money
The rise and fall of Long Term Capital Management

And we just never quite got there. And a lot of, you know, it was just the whole thing was in motion very quickly.

Planet Money
The rise and fall of Long Term Capital Management

And we just never quite got there. And a lot of, you know, it was just the whole thing was in motion very quickly.

Planet Money
The rise and fall of Long Term Capital Management

And we just never quite got there. And a lot of, you know, it was just the whole thing was in motion very quickly.

Planet Money
The rise and fall of Long Term Capital Management

They were like, I don't know, we'll just see what happens. And the Fed said, no, no, no, this is a risk to the market. You guys have to do something about this. We think that you should all put in a couple hundred million dollars each and take over the fund and resolve this crisis in that manner.

Planet Money
The rise and fall of Long Term Capital Management

They were like, I don't know, we'll just see what happens. And the Fed said, no, no, no, this is a risk to the market. You guys have to do something about this. We think that you should all put in a couple hundred million dollars each and take over the fund and resolve this crisis in that manner.

Planet Money
The rise and fall of Long Term Capital Management

They were like, I don't know, we'll just see what happens. And the Fed said, no, no, no, this is a risk to the market. You guys have to do something about this. We think that you should all put in a couple hundred million dollars each and take over the fund and resolve this crisis in that manner.

Planet Money
The rise and fall of Long Term Capital Management

But 14 of the banks agreed to do this and put in about $3.6 billion.

Planet Money
The rise and fall of Long Term Capital Management

But 14 of the banks agreed to do this and put in about $3.6 billion.

Planet Money
The rise and fall of Long Term Capital Management

But 14 of the banks agreed to do this and put in about $3.6 billion.

Planet Money
The rise and fall of Long Term Capital Management

It was very sad for ourselves. It was very sad for everyone. The investors that we lost all this money for, you know, it was really painful for several years afterward. You know, we had built something and we made mistakes and, you know, it was unfortunate.

Planet Money
The rise and fall of Long Term Capital Management

It was very sad for ourselves. It was very sad for everyone. The investors that we lost all this money for, you know, it was really painful for several years afterward. You know, we had built something and we made mistakes and, you know, it was unfortunate.

Planet Money
The rise and fall of Long Term Capital Management

It was very sad for ourselves. It was very sad for everyone. The investors that we lost all this money for, you know, it was really painful for several years afterward. You know, we had built something and we made mistakes and, you know, it was unfortunate.

Planet Money
The rise and fall of Long Term Capital Management

Well, I lost money. You know, call it 80% of, I lost about 80% of my net worth.