MarketWatch – A collapse of the banking system, the demise of the U.S. dollar as the reserve currency, another oil shock, a new round of junk-bond defaults and a meltdown in Japan’s bond market were among the doomsday scenarios explored by hedge-fund managers at a conference in Las Vegas Thursday.
Since the 2008 financial crisis, many hedge funds have added trades that could protect against losses from big, unexpected events — now known as black swans, a term coined by investor Nassim Taleb.
