Mahr: LTCM Would Not Have Failed Without 50x Leverage
Daniel Mahr · Daniel Mahr – Glass Box Quant at MDT Advisers (EP.472) · Nov 20, 2025 · at 37:45
Daniel Mahr, Head of MDT Advisers, discusses how market observers conflate normal quantitative strategy drawdowns with catastrophic leverage-driven unwinds.
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“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.”
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