There were bumps along the way, such as the near-collapse of Long-Term Capital Management (LTCM), a hedge fund, and the dotcom bust, but each time markets recovered relatively quickly.

前进的道路上亦有坎坷，比如说长期资本管理公司（LTCM）和对冲基金的近乎崩溃，网络泡沫，但是每一次，市场总能快速恢复。

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They are naturally keen to avoid a repeat of 1998, when the collapse of Long-Term Capital Management (LTCM) prompted a liquidity crisis.

他们致力于避免重蹈98年的覆辙，当年，长期资本管理的崩溃引起了一场流动性危机。

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But, in 1998, when Long Term Capital Management ("LTCM") blew up, it nearly brought down the financial system. The problem was excessive leverage as reflected in the financial sector debt.

但是，1998年LTCM危机几乎拖垮整个金融体系，问题在于金融借贷反映出过度的金融杠杆率。

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Many readers may not remember the first half of 1998, but may be more likely to recall the Russian ruble crisis in July 1998 and the ensuing collapse in the fall of hedge fund Long-Term Capital Management (LTCM).

FORBES: Will 2012 Be a Repeat of 1998?