Grave new world
Fri Dec 9, 2011
Managers and investors at the AR Symposium say that while opportunities are out there, the macro picture is still frightening.
By the AR editorial staff
With fears of contagion from the European debt crisis, wildly
fluctuating stock markets and the bankruptcy of MF Global fresh
on their minds, hedge fund managers speaking at the AR
Symposium the first week of November said investing these days
is more about avoiding landmines than making huge gains.
||Nassim Taleb, Mitch
Julis and Emmanuel Roman. Illustrations by Luke
Judging by their returns this year, many managers fell short
of even that modest goal. "Hedge funds really haven't done what
they were supposed to do this year," said Emmanuel Roman, COO
of Man Group, the London-based investment manager with $64.5
billion in assets.
It certainly hasn't been for lack of trying. "I think we
worked harder than we have in our careers, but the returns are
not what they should be," Roman added.
Managers warned that a dramatic improvement...
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