In 1992, Britain's number one medical research charity. The Wellcome Trust, made the largest fully-paid non-privatisation secondary offering of shares ever to take place on the UK Stock Exchange and internationally. Since the Trust was the dominant shareholder in the drug company Wellcome pic,...

In September 1998, the well-known US hedge fund, Long Term Capital Management (LTCM) announced it had lost 44 per cent ($2.1 billion) of its investors' money in August alone, and more than 52 per cent from the beginning of the year. This shock caused the Federal Reserve System to organise a...