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In the post
30 March 2009
Read more:
Lehman Brothers
Merrill Lynch
JPMorgan
consolidation
hedge funds
Welcome the Year of the Ox!
As the annus horribilis that was 2008 is finally consigned to the history books, we say goodbye to the year of the rat. The rat-like traits of aggression, wealth, and entitlement apparently have no place in the new order, instead hard work and humility are the order of the day. We are currently faced with many questions, none of which resonates louder than whether this spells the end of the hedge fund (and the securities lending market for that matter), a question which is clouded by uncertainty. The answer however is much clearer – No!
If the most pessimistic reports are accurate, then fund numbers will shrink from approximately 8,000 to 4,000 this year. But as with nature, pruning is healthy. We witnessed too many fund launches over the last decade. Instead of a "best of breed" approach, it often seemed as if anyone with...
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