Long-Term Capital Management

4 statements across 4 episodes · 0 bullish · 1 bearish · 4 people on the record · first statement Oct 22, 2018 by Andrew Tsai · said 46 times in 25 episodes since 2017 · across every show →

Mentions by year

brought up most by Anthony Scaramucci (5), Andy Redleaf (4), Andrew Tsai (4), Ted Seides (3), Michael Mauboussin (3), Michael Cembalest (3), Daniel Mahr (3), Gregory Zuckerman (2)

mentionsepisodesper episode tap a year for its mentions

2026 2 mentions in 1 episode

Bruce MacDonald – The Playbook for Building a Mid-Sized Endowment from Scratch (EP.495) Apr 6, 2026 · 2 mentions · from 14:52
every mention in 2026, scene by scene →

2025 5 mentions in 3 episodes 2 per episode

Daniel Mahr – Glass Box Quant at MDT Advisers (EP.472) Nov 20, 2025 · 3 mentions · from 37:21
Jeff Aronson – Building Centerbridge Across the Capital Structure (EP.468) Nov 3, 2025 · 1 mention · from 39:21
Mason Morfit and Rob Hale – Quiet Activism at ValueAct (EP.462) Sep 29, 2025 · 1 mention · from 9:11
every mention in 2025, scene by scene →

2024 1 mention in 1 episode

Scott Bessent - Macro Maven (EP.415) Nov 4, 2024 · 1 mention · from 32:15
every mention in 2024, scene by scene →

2023 6 mentions in 2 episodes 3 per episode

Anthony Scaramucci – Another Winter and Another Rebirth (Capital Allocators, EP.292) Jan 16, 2023 · 5 mentions · from 39:40
Amy Falls – From Bonds to Boards to Leading Northwestern (Capital Allocators, EP.316) May 22, 2023 · 1 mention · from 10:16
every mention in 2023, scene by scene →

2022 4 mentions in 3 episodes 1 per episode

Andrew Milgram – Mid-Market Distressed Investing at Marblegate (Manager Meetings EP.29) Apr 21, 2022 · 2 mentions · from 9:07
Frank Brosens – Culture and Partnership at Taconic Capital (Capital Allocators, EP.282) Nov 21, 2022 · 1 mention · from 40:19
Joelle Kayden – Canvassing the Landscape at Accolade Partners, Venture is Eating the Investment World 7 (Capital Allocators, EP.235) Feb 14, 2022 · 1 mention · from 10:25
every mention in 2022, scene by scene →

2021 1 mention in 1 episode

Bruce Martin – Still Lake Capital [Manager Meetings, EP.7) Aug 19, 2021 · 1 mention · from 19:33
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2020 3 mentions in 2 episodes 2 per episode

Gregory Zuckerman – Decoding Renaissance Medallion (Capital Allocators, EP.119) Jan 6, 2020 · 2 mentions · from 36:03
Taimur Hyat – After the Great Lockdown (Capital Allocators, EP.149) Jul 20, 2020 · 1 mention · from 11:22
every mention in 2020, scene by scene →

2019 7 mentions in 5 episodes 1 per episode

Michael Mauboussin – Who's on the Other Side (Capital Allocators, EP.99) May 13, 2019 · 3 mentions · from 39:13
Dawn Fitzpatrick – Multi-Faceted Investing at Soros Fund Management (Capital Allocators, EP.112) Nov 4, 2019 · 1 mention · from 13:29
Khe Hy – Radical Shift from Investing to Purpose (Capital Allocators, EP.101) Jun 3, 2019 · 1 mention · from 10:24
David Zorub - The Path to a Hedge Fund Launch (Capital Allocators, EP.96) Apr 22, 2019 · 1 mention · from 15:38
Rahul Moodgal - Master Fund Raiser (Capital Allocators, EP.87) Feb 18, 2019 · 1 mention · from 9:27
every mention in 2019, scene by scene →

2018 13 mentions in 5 episodes 3 per episode

Andrew Tsai – Catching a Theme on the Chalkstream (EP.73) Oct 22, 2018 · 4 mentions · from 15:36
Andy Redleaf - Evolution of Markets (Capital Allocators, EP.46) Apr 2, 2018 · 4 mentions · from 22:39
Michael Cembalest – Eye on the Market (Capital Allocators, EP.49) Apr 23, 2018 · 3 mentions · from 15:59
Mark Baumgartner – Luck, Risk and Uncertainty at the Institute for Advanced Study (Capital Allocators, EP.77) Nov 26, 2018 · 1 mention · from 16:18
Karl Scheer – Competing Sensibly as CIO of the University of Cincinnati (EP.74) Oct 29, 2018 · 1 mention · from 49:22
every mention in 2018, scene by scene →

2017 4 mentions in 2 episodes 2 per episode

Jeffrey Solomon – Vision, Tenacity, and Empathy (Capital Allocators, EP.09) May 30, 2017 · 3 mentions · from 15:13
Andrew Golden – Beyond the Long Term (Capital Allocators, EP.13) Jun 26, 2017 · 1 mention · from 17:57
every mention in 2017, scene by scene →

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Everything said about Long-Term Capital Management, oldest first

Oct 22, 2018

Insight

Market crises can wipe out investors before mean reversion occurs

“When things go bad, they can go much worse than you expected. And things can really happen that, that don't make sense. And it doesn't matter if it makes sense or not, because you're not around to take advantage of the other side.”

Andrew Tsai Oct 22, 2018 ▶ 15:56 Andrew Tsai – Catching a Theme on the Chalkstream (EP.73)

Nov 4, 2024 neutral

Opinion

Bessent: LTCM's 1998 collapse was relative value gone amok, not macro

“Long-term capital had blown up in 1998, And that wasn't really macro, it was more RV gone amok.”

Scott Bessent Nov 4, 2024 ▶ 32:15 Scott Bessent - Macro Maven (EP.415)

Nov 3, 2025 bearish

Assertion Supported

IG credit spreads are at their tightest levels since the late 1990s

“Spreads are super tight. They're tighter now than they were before the GFC in the investment grade world, which is mind blowing. Spreads tightened the tightest level since pre-long-term capital management in the late nineties.”

Jeff Aronson Nov 3, 2025 ▶ 39:14 Jeff Aronson – Building Centerbridge Across the Capital Structure (EP.468)

Nov 20, 2025 neutral

What-if

Mahr: LTCM Would Not Have Failed Without 50x Leverage

“If long-term capital management hadn't been running a fifty-x leveraged strategy, They wouldn't have ended up in the trouble that they ended up with.”

Daniel Mahr Nov 20, 2025 ▶ 37:45 Daniel Mahr – Glass Box Quant at MDT Advisers (EP.472)

Long-Term Capital Management

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Everything said about Long-Term Capital Management, oldest first

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