Globe and Mail – Hedge fund manager Ravi Sood is having a rough time navigating through the tsunami that has hit stock markets around the world.
The stellar record of his Lawrence Partners Fund suffered a 48-per-cent hair cut in September, sending its year-to-date loss to 53 per cent for the first nine months of 2008.
Mr. Sood would not comment about his fund, but told investors in a letter that he was forced to "reduce the size of core positions at inopportune levels in midmonth. …
"We cannot restore all of this year’s loss to date in the next few months or quarters, but we are confident we will get there," said the president of Toronto’s Lawrence Asset Management Inc.
