• Meriwether worked at Salomon Brothers in 1979.
• A dealer at J.F. Eckstein & Co. approached him about a deal with Treasury bill futures.
• The position Salomon Brothers took looked to lose the company substantial funds.
• Meriwether and his team almost lost their jobs due to the deal.
• When the market finally converged, the Salomon Brothers made major money on the deal.
• Meriwether began trading government bonds and made even more money for the Salomon Brothers.
• In 1977, Meriwether founded his own firm and built a strong, intelligent team.
• The team thrived for years until a scandal hit the company.
• Meriwether was forced to resign and Warren Buffet became temporary CEO of the Arbitrage Group.
• Meriwether noticed the appeal of hedge funds in a well-to-do society.
• With Merrill Lynch, Meriwether raised the money he needed to create a company called Long-Term.
• Meriwether created Long-Term with a...
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