Rudolf Münemann

Rudolf Münemann (born January 8, 1908 in Berlin ; † October 22, 1982 in Munich ) was a German finance broker who achieved fame for the "Münemann game" named after him, which is also expressed in the sentence "Make long out of short as Münemann “Is aptly summed up.

With his company "Münemann Industriefinanzierungen GmbH" he carried out maturity transformation on a large scale , ie he lent money (i.e. loans) on a long-term basis (up to 35 years term), which he refinanced on a short-term basis (usually a few months term). Münemann himself called this system the “Revolving System” or “7-M System”.

The system only works with a normal yield curve , ie when the short-term interest rates are lower than the long-term interest rates (term premium). With an inverse yield curve, a loss is permanently generated, which i. d. Usually can only be sustained for a short time. That's why his company collapsed in 1970.

Although this problem was already known, Münemann was able to operate his system very successfully for a very long time. Even today, banks and companies continue to run into difficulties with similar strategies.

His marriage to the doctor's daughter Lucia Minck in 1931 resulted in the children Cornelius and Angela. Angela ( "Angie") was Münemann Munich in the 1960s, part -crowd .

literature

Jaeger, Hans: Münemann, Rudolf. In: New German Biography (NDB). Volume 18, Duncker & Humblot, Berlin 1997, ISBN 3-428-00199-0 , p. 529 f. ( Digitized version ).
Der Revolver , in: Der Spiegel , 17/1959 of April 22, 1959

Individual evidence

↑ Jaeger, Hans: Münemann, Rudolf. In: New German Biography (NDB). Volume 18, Duncker & Humblot, Berlin 1997, ISBN 3-428-00199-0 , p. 529 f. ( Digitized version ).
↑ Rudolf Herlt: Münemanns Rache , in: Die Zeit , January 14, 1983
^ The Ghost of the Italian Yield Curve ( Memento from December 31, 2011 in the Internet Archive ) , in: Financial Times Deutschland , November 28, 2011
↑ Marriages - Angela (Anschi) Münemann , in: Der Spiegel , 40/1965 of September 29, 1965

personal data
SURNAME	Münemann, Rudolf
BRIEF DESCRIPTION	German finance broker
DATE OF BIRTH	January 8, 1908
PLACE OF BIRTH	Berlin
DATE OF DEATH	October 22, 1982
Place of death	Munich

[1] Jaeger, Hans: Münemann, Rudolf. In: New German Biography (NDB). Volume 18, Duncker & Humblot, Berlin 1997, ISBN 3-428-00199-0 , p. 529 f. ( Digitized version ).

[2] Rudolf Herlt: Münemanns Rache , in: Die Zeit , January 14, 1983

[3] The Ghost of the Italian Yield Curve ( Memento from December 31, 2011 in the Internet Archive ) , in: Financial Times Deutschland , November 28, 2011

[4] Marriages - Angela (Anschi) Münemann , in: Der Spiegel , 40/1965 of September 29, 1965