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Hedge fund managers falling like tenpins, BUSINESS TIMES
Business Times (Malaysia), May, 2000 by Hardev Kaur
Business Times (Malaysia) 05-08-2000 THE once-mighty hedge fund managers are falling like tenpins. In less than a month, the Titans of the hedge fund industry, Mr. Stanley Druckenmiller and Mr. Nick Roditi have resigned as portfolio managers of Mr. George Soros' fund management group - the Quantum Fund and the Quota Fund, respectively. This comes in the wake of Mr.
Julian Robertson's decision in March to close the Tiger Management following 72 per cent losses in one-and-a-half years. Mr. Michael Steinhardt, another macro fund manager, closed shop in 1995 while high-flying Long Term Capital Management (LTCM), led by Mr. John W. Meriwether and his nobel prize winners, fell in 1998, prompting the US Federal Reserve to mount a US$3.5 billion (US$1 =...
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