WSJ – Boaz Weinstein, once one of Wall Street’s most successful traders, has seen assets at his hedge-fund firm shrink by half to $2.6 billion over the past year as he struggles with investment losses and client defections.
Investors this year have withdrawn more than 20% of the assets in the main fund managed by Mr. Weinstein’s Saba Capital Management LP. The pullout comes as many hedge funds have struggled to keep pace with yearslong rallies in stock and bond markets, propelled in part by low interest rates world-wide.
