Hedge funds closures will eliminate about 30 percent of the industry, and policy makers may need to shut markets for a week or more to stem panic, according to presentations at an investor conference today in London.
``In a fairly Darwinian manner, many hedge funds will simply disappear,'' Emmanuel Roman, co-chief executive officer at GLG Partners Inc., told the Hedge 2008 conference in London. U.S. regulators will ``find a way to force regulation,'' said Roman, 45, who runs New York-based GLG with Noam Gottesman, 47. The firm was founded 13 years ago as a unit of Lehman Brothers Holdings Inc. and now manages about $24 billion in assets.
Nouriel Roubini, the New York University Professor who spoke at the same conference, said hundreds of hedge funds will fail as the crisis forces investors to dump assets. ``We've reached a situation of sheer panic,'' said Roubini, who predicted the financial crisis in 2006. ``Don't be surprised if policy makers need to close down markets for a week or two in coming days.''>>>MORE
If this photo is good, it would be nice of you to Fave it.
If you would like to see this photo at different sizes, you can view All Sizes.
If there is something inside of the photo you want to highlight, you may add a Note.
If you would like to link one of your photos to this photo, you can Add a Portal to it.
If this photo's rotation is incorrect, you can Rotate it 90° to the left.
If this photo's rotation is incorrect, you can Rotate it 90° to the right.
If you would like to discard this photo, you can Delete it.Princeton cemetery