Recession mentality sinks in
Mon Dec 15, 2008
Coming off the worst year in hedge fund history, industry leaders gathered at the Absolute Return Symposium to debate the shape of the industry to come.
Speakers at the 2008 Absolute Return Symposium predict the
shape of the industry beyond the bloodbath
Top: Rob Ladd, Jamie Dinan, Paul Touradji, Eric
Middle: Melissa Ko, Sandra Manzke, John Paulson, James
Bottom: Hal Schroeder, Michael Lewitt, Max
Holmes, Peter Thiel.
With all the talk about markets being in the worst shape since
the Great Depression, there is one big difference. During the
1930s, there were no hedge funds. As the industry tries to
determine what it will look like on the other side of what York
Capital Management founder Jamie Dinan calls a watershed year,
there's a fair amount of trepidation.
"Baron Rothschild said, 'the best time to buy is when
there's blood in the streets,' and the reality is there's a lot
of blood in the streets today," Dinan said in his keynote
address at the 2008 Absolute Return Symposium. "Unfortunately,
ISSN: 2151-1845 / CDC10004H
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