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Today’s the day. There are roughly 10,000 hedge funds managing $2,700bn, bemoans Peter Cohan at BloggingStocks.

“That’s why we can expect the unexpected every day for the foreseeable future until every single hedge fund that’s lost money for investors dribbles out its bad news - in the form of a leaked letter to clients,” he writes.

Greg Newton at Naked Shorts lists the reasons why it’s a tad early to get all excited, simply because we’re 45 days away from the end of September. This redemption season will be much more active than most, particularly in the most brutalised investing styles, he says, but regardless, it will take some time for anyone to get a solid handle on what’s going on.

It was events at Sentinel prompted Cohan’s lament. For him, the episode raises many questions but not least, “does anyone know how many more such hedge fund implosions we can expect before we get to the bottom of this mess?”

Nope.

So in the absence of real information, here’s what one bright spark makes of the weeks to come. Coming to an inbox near you.

Origin unknown - but presumed, and rumoured, to have emanated from a credit fund.

We’re all waiting to discover the twist at the end of this one.