International Herald Tribune – Bernard Drury is a rarity on Wall Street: a hedge fund manager who is making money rather than losing it.<\/p>\n
While most hedge funds are sinking into red this year and unsettling the markets in the process, a handful of them are posting spectacular gains. Drury’s fund, for instance, is up 60 percent since Jan. 1.<\/p>\n
How did he do it? Drury, a former grain trader, is not giving away his secrets. He relies on proprietary computer models to chart tides in the markets and to ride the prevailing currents.<\/p>\n
But however smart or lucky the moneymakers have been, a few bad trades can end any hot streak. Despite Wall Street’s reputation as a place of big money and bigger egos, many of the winners are reluctant to boast, particularly given the gaping losses threatening some rivals.<\/p>\n
"There’s going to be, naturally, a lot of forms of disillusionment with hedge funds," said Drury, who opened his fund, Drury Capital, in 1992.<\/p>\n