Reuters- Recent stock market drops hurt some of the world’s most famous hedge fund managers, who have long attracted money with promises that they could sidestep even the worst conditions.
Bruce Kovner’s Caxton Alpha Equity fund, Lee Ainslie’s Maverick Fund and Leon Cooperman’s Omega fund rank among the $2 trillion hedge fund industry’s prominent losers in the first days of 2008, according to people who have seen the numbers.
The average global hedge fund lost 3 percent through the end of last week, according to Hedge Fund Research data, and that was before global markets plunged on Monday, when indexes fell 7.2 percent in Germany and 7.4 percent in India. U.S. markets were closed on Monday.
U.S. hedge funds specializing in stocks were off 5 percent on average through last Friday, according to data from New York-based Hennessee Group, which invests in hedge funds and tracks their performance.
