Soros - HedgeWorld News is sponsored by: Soros Sees...

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HedgeWorld News is sponsored by: Soros Sees 'Shakeout' Downsizing Hedge Fund World By Reuters Wednesday, October 29, 2008 Email this story | News Tracker | Reprints | Printable Version CAMBRIDGE, Mass. (Reuters)—The global financial crisis will reduce the hedge-fund industry to as little as a third of its current size, billionaire investor George Soros said on Tuesday [Oct. 29]. "The hedge-fund industry is going to move through a shakeout," Mr. Soros, one of the world's first hedge-fund managers and still among the best known, said on Tuesday in a speech at the Massachusetts Institute of Technology. "In my estimation (the industry) will be reduced in size by anywhere between half and two thirds." He did not specify if he was talking about the number of funds or the amount of money invested in them. Many of the ultra-wealthy investors who fueled a doubling in hedge-fund industry assets to about $1.9 trillion across roughly 10,000 of the loosely regulated funds worldwide in the last three years have been pulling their money out, fearful of hedge-fund failures. To stabilize the economy, regulators should oversee credit markets, which will make some aspects of the financial services business less profitable, said Mr. Soros, one of the
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This note was uploaded on 04/09/2010 for the course NBA 5450 taught by Professor Richardmarin during the Fall '09 term at Cornell University (Engineering School).

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