# kaal:claim:1428387-015

**Claim.** Post-1998 hedge fund regulatory proposals were misdirected because LTCM was unique among its peers in leverage, position size, and market-making ability, so the proposals mostly addressed LTCM as a single case rather than the range of issues affecting all hedge funds.

**Type.** failure  **Support.** argued

**Holds when.**

- regulatory proposals issued in the aftermath of the LTCM near-collapse

**Source quote.**

> Because LTCM was so unique among its peers due to its leverage, the size of its positions and its market making abilities, regulatory proposals mostly addressed LCTM as a single case119 rather than the range of issues pertaining to all hedge funds.

**From.** Kaal, *Hedge Fund Valuation Retailization, Regulation, and Investor Suitability* (2009), IV.A Regulatory Recognition of Retailization, page 22

**Cite as.** Kaal, Hedge Fund Valuation Retailization, Regulation, and Investor Suitability (2009). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1428387

**Verify.** sha256 of source PDF `6aa3a280dc6750723be2389f3af2aabf3a16c4ce20e49fcdaddd7f2ea95a67aa` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202009%20-%20Hedge%20Fund%20Valuation%20Retailization%2C%20Regulation%2C%20and%20Investor%20Suitability.pdf

**Failure mode.** single-case-regulation  (family: sample-and-selection-bias)

**Topics.** private-funds

**Keywords.** ltcm, regulatory-proposals, generalization-error, hedge-fund-regulation

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