Reuters – A select band of shrewd hedge fund managers have avoided September’s market pitfalls to post healthy profits, even as Europe’s deepening debt crisis leaves much of the $2 trillion industry nursing painful losses.
Bearish macro bets such as owning U.S. and European government bonds, as well as being short equities, commodities and the euro, have helped funds navigate a crisis that has seen fears of a global recession and a banking crisis grow.
