Seattle Times – Just a third of hedge funds with assets of more than $100 million had positive returns in 2008, according to data compiled by Bloomberg. Abraham Trading Diversified Program, a small operation in rural Texas, was up 30 percent in 2008.

It’s late on a Sunday evening in October, and Salem Abraham is the last diner at the Cattle Exchange steakhouse. Abraham is a businessman and lifelong resident of this tiny oasis of a town — population 2,277 — nestled among cattle ranches in the desolate Texas Panhandle, its green hills watered by the Canadian River.

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