Sep
02
Some Hedge Funds Prosper in Market Tumult
By
Israel Englander, chairman of Millennium Management, which is said to be up nearly 10 percent this year. CreditPhil McCarten/Reuters
A market sell-off that ricocheted across the globe last month reversed the fortunes of many of Wall Street’s star investors. But it is not all doom and gloom in the $3 trillion hedge fund industry.
A number of hedge funds, both big and small, are recording double-digit gains this year and putting up the kind of performances that just might justify the industry’s famously hefty fees.
Among the better-performing funds are those that were started in the past several years by former disciples of Steven A. Cohen, the billionaire investor who founded SAC Capital Advisors….
Some Hedge Funds Prosper in Market Tumult
