Meriwether's Curious Deed

He transferred property to his wife during LTCM's fall

By all accounts, the last few days of August were hellish ones for John W. Meriwether and his beleaguered hedge fund, Long-Term Capital Management. In the midst of the marketplace slaughter that sent LTCM--and its creditors--to the brink of catastrophe, Meriwether still had time to attend to some family business. On Aug. 27, he signed an "interspousal transfer grant deed" transferring to his wife, Mimi, a 20-acre vacant lot on Del Ciervo Road in a tony residential area of Pebble Beach, Calif. It was, until that moment, the only property in his name.

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