Overgrown and full of deadwood
Every major correction seems to claim at least one big scalp from the hedge-fund world – usually some brash young manager with bundles of cash and not a lot of experience. But last October, it was a legend of the business, Victor Niederhoffer, who crumbled. With his funds already down almost 50% after he tried, and failed, to pick a bottom in Thai equities that August, Niederhoffer was wiped out when he was caught short S&P 500 puts during the US market fall just two months later.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
