But this year has been great for some, with Bridgewater up 25%.
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The market volatility of August and September has turned dramatic gains into painful losses at some of the world’s largest and most respected hedge funds. Notably, veteran currency trader Melissa Ko's Covepoint Emerging Markets Macro Fund, which was up 20.20% through August, fell an estimated 37.87% in September as the dollar rose against several foreign currencies, bringing it down 25.32% for the year.
As with August, September challenged the industry with high volatility and declining stock indices. The AR composite index fell an estimated 1.49% during the month, putting