Hedge Funds' Year Still Getting Worse

Wall Street Journal:

In the world of hedge funds, it is harder to hide from the financial crunch.

Since the crunch began, these elite money managers have generated strong returns by focusing on areas such as commodities, emerging-market stocks or betting against troubled banks.

But as hedge funds as a group look set to turn in their worst monthly performance since July 2002, even those investment strategies that had been doing well have run into trouble. Some previously highflying funds are sustaining declines in the double digits. Several managers are down more than 20% for the year.

Read the whole story: Wall Street Journal

Comments

[mrcontinental]

Wall Street has become Vegas on steroids. If you have most of your net worth there right now then you are asking to ravaged. Let all of the hedge funds fold; serves them right.

[rapriffmaster]

These scumbags deserve EVERYTHING that is coming to them.They have been sucking the American people dry for at least the last eight years.The Buddhists call it Karma.
Frankly, I would love to see the day when New York sanitation workers get overtime and hazardous duty pay to go and scrape the entrails and blood off of Wall st. where these jokers have jumped from their 40th floor corner office,because the bank had just called to inform them that they were repossessing their Hampton's Beach house,their Steamboat Springs condo,and their New Canaan home.And just before they jump they look out the window in time to see their new Bentley being hauled off by a wrecker to the bank.Meanw­hile their trophy wives are sitting in their now-empty home(the bank just picked up all of their early American furniture),with a foreclosure notice in one hand,their last bottle of Gray Goose in the other hand,which she just used to wash down her fourth Xanax in the last hour.I would call THAT Karma.

[leftLibertarian]

I'm playing my tiny violin for them.

[MyNameIsJames]

I have the solution - President Bush's social security plan. Let's hand those social security funds over the hedge fund BOYS. That is the stimulus that they need!

[Enid]

Hedge fund more evil than the politicians who wright holes in legislation for these rats too come and go as they please.
Incomes taxed at capital gains rate is a tiny one.
Skip out of SS payments another.
this is before we get to the tax attorney and their slit of hand a big one.

Twenty First Century Carpetbaggers one and all.

[WorkingClass]

The United States is rapidly converting to central planning and price controls. Its a new world without an American market. Rich people are going to find that the only way to get richer is to steal from other rich people.