Myron Scholes' hedge fund dives in March
Platinum Grove Asset Management, the $5.8 billion hedge fund group headed by financial luminary Myron Scholes, last month suffered its worst performance since inception amid turbulence in fixed income markets, the firm told investors this week.
Platinum Grove, which the Nobel Prize-winning Scholes founded in 2000 with other alumni from defunct hedge fund Long-Term Capital Management (LTCM), suffered an 11.37 percent drop for its domestic fund and 10.72 percent for its offshore sister fund, according to a letter the fund sent to investors on April 7....MOREMeriwether hedge fund down 28 percent in 2008: report
See "Gaming the System: Are Hedge Fund Managers Talented, or Just Good at Fooling Investors? " from Knowledge@Wharton.
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Large Hadron Collider Sparks 'Doomsday' Lawsuit
Large Hadron Collider Won't Destroy Earth. Of Course Not
The markets responded;
From Long or Short Capital:
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