# John Meriwether > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/John_Meriwether > Markdown URL: https://mediated.wiki/source/John_Meriwether.md > Source: https://en.wikipedia.org/wiki/John_Meriwether > Source revision: 1336225011 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{short description|American hedge fund executive (born 1947)}} {{BLP sources|date=September 2013}} {{Infobox person | name = John W. Meriwether | image = | birth_date = {{Birth date and age|1947|8|10}} | birth_place = [Chicago](/source/Chicago), Illinois, United States | death_date = | death_place = | occupation = Businessman
Financier
Racehorse owner }} '''John William Meriwether''' (born August 10, 1947) is an American [hedge fund](/source/hedge_fund) executive. ==Education== Meriwether earned an undergraduate degree from [Northwestern University](/source/Northwestern_University) and an [M.B.A.](/source/MBA) degree from the [University of Chicago Booth School of Business](/source/University_of_Chicago_Booth_School_of_Business).{{cite news|title=John Meriwether: Hedge Fund Wizard or Wall St. Gambler Run Amok? |last1=Morgenson |first1=Gretchen |url=https://partners.nytimes.com/library/financial/100298crisis-meriwether-profile.html|accessdate=17 March 2016|work=The New York Times|date=2 October 1998}} ==Salomon Brothers== After graduation, Meriwether moved to New York City, where he worked as a [bond](/source/Bond_(finance)) trader at [Salomon Brothers](/source/Salomon_Brothers). At Salomon, Meriwether rose to become the head of the domestic [fixed income arbitrage](/source/fixed_income_arbitrage) group in the early 1980s and vice-chairman of the company in 1988.{{cite news|archiveurl=https://web.archive.org/web/20191007194426/https://dealbook.nytimes.com/2009/07/08/meriwether-closes-hedge-fund-after-loss/|archivedate=2019-10-07|url=https://dealbook.nytimes.com/2009/07/08/meriwether-closes-hedge-fund-after-loss/|title=Meriwether Said to Close Hedge Fund|date=8 July 2009|work=[The New York Times](/source/The_New_York_Times)|access-date=2025-08-04}} In 1991, Salomon was caught in a [Treasury securities](/source/Treasury_security) trading scandal perpetrated by a Meriwether subordinate, Paul Mozer. Meriwether was assessed $50,000 in civil penalties.{{cite web |url=https://www.forbes.com/sites/thestreet/2012/05/23/reincarnation-on-wall-street-screw-ups-never-die/#46adde32198a |title=Reincarnation on Wall Street: Screw-Ups Never Die |date=23 May 2012 |work=[Forbes](/source/Forbes)|access-date=11 January 2018}} ==LTCM== Meriwether founded the [hedge fund](/source/hedge_fund) [Long-Term Capital Management](/source/Long-Term_Capital_Management) in 1994. The fund collapsed in 1998.{{cite web |url=https://www.barrons.com/articles/a-good-time-for-caution-in-the-markets-1499489952 |title=A Good Time for Caution in the Markets |last= Sears|first=Steven |date=8 July 2017 |publisher=[Barron's](/source/Barron's_(newspaper)) |access-date=11 January 2018 |quote=}} The books ''[When Genius Failed: The Rise and Fall of Long-Term Capital Management](/source/When_Genius_Failed%3A_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.{{cite web|url=https://www.nytimes.com/2000/08/22/business/markets-market-place-manager-hedge-fund-fiasco-seeks-repair-his-reputation.html|title=THE MARKETS: Market Place; Manager of Hedge Fund Fiasco Seeks to Repair His Reputation|last=Hakim|first=Danny|date=22 August 2000|website=[The New York Times](/source/The_New_York_Times)|access-date=20 September 2019}} ==JWM Partners== A year after LTCM's collapse, in 1999, Meriwether founded [JWM Partners LLC](/source/JWM_Partners_LLC). The hedge fund opened with $250 million under management and by 2007 had approximately $3 billion.{{cite web |url=http://www.hoovers.com/jwm-partners/--ID__61105--/free-co-profile.xhtml|title=JWM Partners-Company description-Hoovers |accessdate=2008-04-11 }} From September 2007 to February 2009, during the [Great Recession](/source/Great_Recession), his main fund lost 44%. On July 8, 2009, Meriwether closed the fund.{{cite web |url=https://www.ft.com/content/21a6bbee-6c00-11de-9320-00144feabdc0 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/21a6bbee-6c00-11de-9320-00144feabdc0 |archive-date=2022-12-10 |url-access=subscription |url-status=live|last=Jones|first=Sam|date=8 July 2009|title=Meriwether's JWM Partners winds down flagship fund|publisher=[Financial Times](/source/Financial_Times)|accessdate=11 January 2018 }} ==JM Advisors== Meriwether opened his third hedge fund, named JM Advisors Management, in 2010.Sam Jones: [https://www.ft.com/content/331bae80-be93-11de-b4ab-00144feab49a Meriwether setting up new hedge fund], ''[Financial Times](/source/Financial_Times)'', 22 October 2009 The fund is expected to use similar strategies as both LTCM and JWM, namely highly leveraged "relative value arbitrage". By March 2011, however, the JM Advisors Macro Fund had raised only $28.85 million. [https://www.sec.gov/Archives/edgar/data/1487847/000113605611000061/xslFormDX01/primary_doc.xml SEC Filing for JM Advisors] ==Thoroughbred racing== Meriwether has been an owner of [thoroughbred](/source/thoroughbred) horses for a number of years and is a member of the [board of directors](/source/Board_of_Directors) of the [New York Racing Association](/source/New_York_Racing_Association) (NYRA). He notably campaigned Buckhan, the winner of the 1993 [Washington, D.C. International Stakes](/source/Washington%2C_D.C._International_Stakes).[http://www.ntra.com/stats_bios.aspx?id=3604 John Meriwether, Richard Leahy - NTRA] {{webarchive|url=https://web.archive.org/web/20071020055257/http://www.ntra.com/stats_bios.aspx?id=3604 |date=2007-10-20 }} ==See also== * [List of trading losses](/source/List_of_trading_losses) * ''[Liar's Poker](/source/Liar's_Poker)'' * ''[When Genius Failed](/source/When_Genius_Failed)'' * [Black swan problem](/source/Black_swan_problem) ==References== ==Further reading== * {{cite book| author=Lowenstein, Roger|title=[When Genius Failed: The Rise and Fall of Long-Term Capital Management](/source/When_Genius_Failed%3A_The_Rise_and_Fall_of_Long-Term_Capital_Management)|publisher=[Random House](/source/Random_House)|location=New York|year=2000|isbn=0-375-50317-X}} *{{cite book|author=Dunbar, Nicholas|title=Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It|publisher=[John Wiley & Sons](/source/John_Wiley_%26_Sons)|location=New York|year=2000|isbn=0-471-89999-2|url=https://archive.org/details/inventingmoneyst00dunb}} *{{cite book|author=Lewis, Michael|title=[Liar's Poker](/source/Liar's_Poker): Rising through the Wreckage on Wall Street|publisher=[W.W. Norton](/source/W.W._Norton)|location=New York|year=1989|isbn=0-393-02750-3}} ==External links== * [http://comp.uark.edu/~amalakho/teaching/finn5333/links/LTCM.pdf Case Study: Long-Term Capital Management] * [https://web.archive.org/web/20160910055927/https://www.highbeam.com/doc/1G1-115566275.html Meriwether and Strange Weather: Intelligence, Risk Management and Critical Thinking] {{DEFAULTSORT:Meriwether, John}} Category:1947 births Category:American bankers Category:American financial company founders Category:American financiers Category:American hedge fund managers Category:American investors Category:American money managers Category:American racehorse owners and breeders Category:American stock traders Category:Businesspeople from Chicago Category:Businesspeople from Greenwich, Connecticut Category:Citigroup employees Category:Living people Category:Long-Term Capital Management Category:Northwestern University alumni Category:New York Racing Association executives Category:University of Chicago Booth School of Business alumni --- Adapted from the Wikipedia article [John Meriwether](https://en.wikipedia.org/wiki/John_Meriwether) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/John_Meriwether?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.