The fact that Warren Buffet did not save LTCM suggests that A. LTCM's trading strategy must...
The fact that Warren Buffet did not save LTCM suggests that
A. LTCM's trading strategy must be wrong
B. Warren Buffet has not involved in any derivative business. So he did not know it takes longer than one hour for counterparties of derivate contracts to agree to his deal.
C. Sometimes, sophisticated investors may have an incentive to not make market efficient, especially if there are profitable opportunities in the short term.
D. Warren Buffet is a value investor and LTCM's situation has nothing to do with value investing.
Homework Answers
On September 23, 1998, Goldman Sachs, AIG, and Berkshire Hathaway offered then to buy out the fund's partners for $250 million, Warren Buffett gave Meriwether less than one hour to accept the deal; the time lapsed before a deal could be worked out.
So the answer is:
B. Warren Buffet has not involved in any derivative business. So he did not know it takes longer than one hour for counterparties of derivate contracts to agree to his deal.
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