Montserrat of Montserrat is approximately east-southeast of Puerto Rico and southwest of Antigua. The island lies north-northwest of Suriname and French Guiana (France). It comprises and is gradually increasing owing to the buildup of volcanic deposits on the southeast coast. The island is long and wide, with rock cliffs rising above the sea and a number of smooth bottomed sandy beaches scattered among coves on the western (Caribbean) side of the island. Montserrat has two islets, Virgin and Statue Rock. In July 1995, Montserrat's Soufrière Hills volcano, dormant for centuries, erupted and soon buried the island's capital, Plymouth, in more than
Long-Term Capital Management on more traditional investment vehicles, such as mutual funds, as established by the Investment Company Act of 1940—funds which accepted stakes from 100 or fewer individuals with more than $1 million in net worth each were exempt from most of the regulations that bound other investment companies. In late 1993, Meriwether approached several "high-net-worth individuals" in an effort to secure start-up capital for Long-Term Capital Management. With the help of Merrill Lynch, LTCM secured hundreds of millions of dollars from business owners, celebrities and even private university endowments and later the Italian central bank. The bulk of the money, however,