Posted on 17/06/09
'Right side of zero' is badge of pride
Onetime Wall Street investment banker Hanif Mamdani proved during the global market meltdown that a disciplined hedge fund manager who focuses on preserving capital in tough markets can do just that, no matter how dreadful conditions might become. Last year was disastrous for many hedge funds both large and small, as they ran aground on the shoals of greed, leverage and lousy judgment. The Morningstar 1000 hedge fund index fell about 22 per cent, and some funds plunged in value by as much as 40 to 60 per cent.
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