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LTCM: Long Term Capital

Holy Grails

Here is an original promotional document from Long Term Capital Management (10 MG). This LTCM document is only available online here at

LTCM still, a few years later, is a fantastic case study and a monster cautionary tale. You can read about those who won LTCM’s losses in the book Trend Following, understand the background in the book When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein and read a great white paper from the CATO institute on LTCM.

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Michael Covel Trend Following Products

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Trend Following Books
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Pricing for trend following systems, risk management, trading psychology and black swan strategies. Absolute return systems and education for brand new traders and established pros. Thousands of clients across 70+ countries. Client feedback.


The Trend Following™ podcast. Listen now on iTunes and Android. Top authors and traders plus alternative commentary. 5M+ listens across 188 countries & territories.

Small Town Guy Makes Millions

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TurtleTrader® Site Map

Small town guy makes trend following fortune. His free lesson delivered on video: GET VIDEO NOW.