Brunnermeier, Markus K.; Pedersen, Lasse Heje - 2005
bank financing the trade. Similarly, traders who use portfolio insurance,
stop loss orders, or other risk management … ...
Also, Cai (2002) finds that “locals” on the Chicago Board of Exchange (CBOE)
pits exploited knowledge of LTCM’s short … pension
and endowment funds, money management firms and investment banking
houses. This selling in turn stimulated further …