Larry Hilibrand (born circa 1959) is a mathematically-inclined arbitrage trader with two degrees from MIT. He was the top-paid arbitrage trader at Salomon Brothers in 1992 and at the time the youngest managing director in Salomon Brothers history and hence was nicknamed the "teenage" managing director
At the behest of John Meriwether, Hilibrand subsequently left Salomon to become one of the founding partners of the hedge fund Long-Term Capital Management (LTCM) where—during the peak of LTCM's success—he was worth half a billion dollars. LTCM failed abruptly in August/September 1998. Hilibrand had invested so much of his personal wealth in LTCM that when LTCM failed, he found himself broke.
Since the LTCM failure in 1998, Hilibrand has flown under the radar. He joined a group (again led by Meriwether) that started a new fund, JWM Partners LLC. JWM Partners closed in 2009, having lost 42% of its capital.
- "Dream Team". Bloomberg Business. Bloomberg. 28 August 1994. Retrieved 31 March 2015.
Here you'll find Lawrence E. Hilibrand, 35, the reclusive trader
- Lowenstein, Larry (2011). When Genius Failed. Random House. p. 11.
- Lowenstein, Larry (2011). When Genius Failed. Random House. p. 127.
According to one estimate, Hilibrand alone was half a billion dollars ...
- Lowenstein, Larry (2011). When Genius Failed. Random House. p. 219.
awoke to discover that he was broke
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