After a relatively quiet end to 2007, as the
Absolute Return Composite Index finished up 0.42% for
December, markets took a turn for the worse in January and most
managers look to have been caught off guard.
In early January, Asian markets saw some of the biggest
loses since 9/11, amid fears of an imminent U.S. recession and
the impact on export-led Asia. This shock drop rippled through
Europe and the U.S as managers tried to get a grip of falling
prices and maintaining balances....