The year 2007 was exceptionally challenging in the markets,
both for banks and for hedge funds. Nevertheless, despite a few
high-profile casualties, the hedge funds generally came through
pretty well with some, such as the funds managed by
Paulson & Co., producing amazing and unprecedented gains.
So can we hope for or expect more of the same in
Well, this year certainly doesnt look like its
getting any easier. There were without doubt some difficult
months last year, notably August and November. But 2008 has
started off with a January that was, if anything, even more
treacherous, featuring bearish conditions and some wild,
intramonth swings both up and down, especially for hedge funds
trading equities in Europe and Asia.
In Europe, the EuroHedge Composite index was down 1.21% in
January not quite as bad as last August or