Fragen? Antworten! Siehe auch: Alternativlos
The typical fund has fallen by almost a fifth so far this year, according to Hedge Fund Research (HFR), an analysis firm (see chart 1). “Convertible arbitrage” funds—which try to exploit price anomalies among corporate bonds—have lost a staggering 46%. By some margin 2008 has been hedge funds’ worst year since HFR began compiling records in 1990.
The carnage is indiscriminate. In Asia as well as London and America, hedge funds are closing some or even all of their operations. Few strategies have worked well. Ken Griffin, the boss of Citadel, a fund based in Chicago and known for its quantitative trading techniques, told investors that September was “the single worst month, by far” in its history. Even David Einhorn, an American short-seller who bet successfully on Lehman Brothers’ demise, has lost plenty.