{"id":9094,"date":"2008-11-11T00:00:00","date_gmt":"2008-11-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"scholes-among-losers-as-hedge-funds-slump-in-october","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2008\/scholes-among-losers-as-hedge-funds-slump-in-october.html","title":{"rendered":"Scholes Among Losers as Hedge Funds Slump in October"},"content":{"rendered":"<p>Bloomberg &#8211; Hedge funds run by Jeffrey Gendell and John Burbank III posted their worst monthly losses in October. Peter Thiel gave back gains made earlier in the year. Nobel-prize winner Myron Scholes froze his biggest fund. <\/p>\n<p>The managers, like many in the $1.7 trillion hedge-fund industry, were caught in a downdraft of market declines, client redemptions, demands from lenders for more collateral and forced asset sales that accelerated after Lehman Brothers Holdings Inc. collapsed in mid-September. <\/p>\n<p>Funds fell by an average 5.4 percent last month, pushing the year-to-date drop to 15.5 percent, according to the HFRI Fund Weighted Composite Index compiled by Chicago-based Hedge Fund Research Inc. Investors have been handed losses for five straight months, the longest streak since HFRI started the index in 1990. <\/p>\n<p>&#8220;October was the perfect storm for liquidity drying up, especially in the credit markets,&#8221; said Gary Vaughan-Smith, co- founder of London-based SilverStreet Capital LLP, which has $600 million invested in hedge funds for its clients. &#8220;We are through the worst and the turmoil should be gone by the end of November.&#8221; <\/p>\n<p><strong><a title=\"Read Complete Article\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&#038;sid=aBi5SyfO0XtI\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Hedge funds run by Jeffrey Gendell and John Burbank III posted their worst monthly losses in October. Peter Thiel gave back gains made earlier in the year. Nobel-prize winner Myron Scholes froze his biggest fund. The managers, like [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2796,3281,968,276,3318,2336,230,96,1517,415,48,3658,3659,1516,2453],"class_list":["post-9094","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-dealer-operations","tag-dumps","tag-existing-service","tag-fourth-quarter","tag-hussman-strategic-growth-fund","tag-il","tag-institutional-marketing","tag-lehman-brothers-holdings","tag-lehman-brothers-holdings-inc","tag-management-units","tag-money","tag-nobel-prize-winner","tag-peg-ratio","tag-sailfish-capital-partners-llc","tag-security-prices"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9094"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9094\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}