Some Brit hedgie doing their best "rooftop of Nakatomi Tower" impression.
"The $908 million Caliber Global Investment hedge fund announced it was shutting down after its management company, Cambridge Place Investment Management, concluded that losses in mortgage and structured product bonds could not be made up. The fund is set to wind down over the next 12 months. "
KABOOM.
Friday, June 29, 2007
Holy Shit!
Wow!!! I just can't believe all the hedge funds that are dying off, one by one. Who woulda thunk that a combination of easy leverage and huge incentive to take on massive risk would ever result in disaster????
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