Losing $4.5B in value really understates the impact LTCM's failure had on the public markets. Multiple wall street firms (at US Government urging) needed to ur

Losing $4.5B in value really understates the impact LTCM's failure had on the public markets. Multiple wall street firms (at US Government urging) needed to urgently inject massive capital into the markets to contain a near-systemic collapse. PBS produced a phenomenal documentary, The Trillion Dollar Bet[1], which covers the development of Black-Scholes and the rise and fall of LTCM. Highly recommended. [1] http://watchdocumentaries.com/trillion-dollar-bet/ http://watchdocumentaries.com/trillion-dollar-bet/