Cover Story: Schwab's 18 Month Challenge - Will the Third Time Be a Charm?
Traders Magazine, November 1999
Lon Gorman, with some 30 years of trading background in the securities business, was on his way to running a hedge fund in 1996. Running a hedge fund was going to be his new career after some 16 years at First Boston, which had lost its independence to Credit Suisse because of its disastrous stockpiling of junk bonds.
Gorman, who had rebuilt First Boston's block trading operations in 1990, was uninterested in running another trading division. He believed he was suited to running a hedge fund operation because his background was mainly "in trading and taking risks." Then he was bowled over by an executive recruiter who was persistent.
All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.