LTCM cracks me up because it should have been obvious that linking a massively liquid market with a not very liquid market was going to be trouble. IIRC when th

LTCM cracks me up because it should have been obvious that linking a massively liquid market with a not very liquid market was going to be trouble. IIRC when the crisis came it turned out there were only three or four buyers on the tight side, and when they sat on the sidelines it was game over for LCTM.