Jeffrey Gendell
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StreetInsider.com has put together its 'Top 15 For 2008' which chronicles our view of the most significant news on Wall Street during the tumultuous year.
Number 6: Hedge Fund Meltdown
'Hedge fund' has been the buzz-word in the investment community over the last decade. Everyone either wanted to be running one or invested in one. The billions being made by hedge fund managers made even some of the top-paid Wall Streeters envious. If you were lucky enough to be invested with one of the top managers you were considered 'golden'. In 2008, the shine of the hedge fund world ended - and when it ended it was UGLY!
On average, hedge funds lost 18.3% in 2008. This number ...
Tontine Associates' Jeffrey Gendell, who is liquidating two hedge funds after heavy losses, is planning to start a new hedge fund in February, according to reports from Bloomberg.
In a letter to investors, Gendell said the new fund will invest in stocks ...
Many hedge funds who tried to call a bottom got killed as the markets declined past even the most pessimistic expectations. On top of that, hedge funds were hit by client redemptions, demand for more collateral from lenders, and accelerated asset sales as Lehman Brothers went out of business.
Hedge Fund Research Inc said, on average, hedge funds have lost 15.5% YTD and 5.4% last month. Investors in hedge funds looking to raise ...
