Greg Hawkins
Encyclopedia
Gregory Dale Hawkins was a trader and principal in the hedge fund Long-Term Capital Management
that after four spectacularly successful years lost most of its clients' money in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian ruble
. Long-Term Capital had $4.6 billion in portfolio losses in a few months and only avoided outright bankruptcy because the U.S. central bank
prompted a consortium of large global investment banks and counterparties of LTCM to provide an equity bailout. LTCM shutdown in early 2000.
in 1982. http://alum.mit.edu
Long-Term Capital Management
Long-Term Capital Management L.P. was a speculative hedge fund based in Greenwich, Connecticut that utilized absolute-return trading strategies combined with high leverage...
that after four spectacularly successful years lost most of its clients' money in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian ruble
Ruble
The ruble or rouble is a unit of currency. Currently, the currency units of Belarus, Russia, Abkhazia, South Ossetia and Transnistria, and, in the past, the currency units of several other countries, notably countries influenced by Russia and the Soviet Union, are named rubles, though they all are...
. Long-Term Capital had $4.6 billion in portfolio losses in a few months and only avoided outright bankruptcy because the U.S. central bank
Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
prompted a consortium of large global investment banks and counterparties of LTCM to provide an equity bailout. LTCM shutdown in early 2000.
Early life
Hawkins earned an S.B. in economics from MIT in 1976 and a Ph.D. in management from the MIT Sloan School of ManagementMIT Sloan School of Management
The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts....
in 1982. http://alum.mit.edu