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Hedge fund implosion
Filed in archive markets by leon on October 16, 2008
Hedge fund implosion


JP Morgan chief Jamie Dimon summed it up well: "If you are not fearful, you're crazy."

And that sound you hear, with the Dow Jones suffering its biggest drop since 1987, is hedge funds going down the drain. Way too much leverage and the whole thing has the whiff of forced selling. As the New York Times points out, hedge funds are already down 17% and investors are withdrawing billions of dollars. And it's unusual because, as a rule, hedge funds tend not to have bad years. Investors with the big bucks to pour in always assume that hedge funds will do well, whether the year is good or bad. Guess why they're called hedge funds.

But this year is debacle, the worst ever. An analysis by Time magazine reveals that these funds have lost nearly $300 billion due to bad investments in the first nine months of the year.

So much for smart money!

Permalink: Hedge fund implosion
Tags: hedge  funds  losses  2008  fund  hedge+fund  hedge+funds  fund+implosion 
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