TimesOnline – Philippe Jabre spent much of last October and November flying economy. Times were tough as he tried to convince investors not to pull their money out of his hedge fund.
When he was not in the air, Jabre rarely moved from the trading floor of his Geneva office. With a phone glued to his ear, he tried to make sense of the markets.
Although he was bearish as the credit crunch began to unfold, he did not expect the markets to slump so violently. He certainly did not expect a threat to the existence of his hedge fund, Jabre Capital. “It was touch and go,” he said. “The run [on the fund] was not justified, but the large institutions and the funds of funds, those that were ticking boxes, didn’t want to stay.”