The financial media must have been drinking the same beer water over the weekend. Bloomberg, Reuters and the WSJ have all published long-ish hedge fund articles that flow into each other rather nicely:
Hedge funds are caught in a tight spot
Some of the biggest hedge funds are having their worst years, and the flood of new money going into funds has slowed. That is pressuring an industry bracing for investor withdrawals and worrying about how to survive without lucrative performance fees.
Exiting managers cast pall over hedge fund industry
Running a hedge fund was long considered the crown jewel in finance but this summer a growing number of managers have called it quits, unable or unwilling to keep going during one of the industry’s worst-ever years.
Citadel, SAC Capital get pick of casualties as carnage worsens
While more than 200 hedge funds shut down this year, Balyasny, SAC Capital Advisors LLC and Citadel Investment Group LLC are taking advantage of the industry’s worst performance in a decade to go on a hiring spree.
So, hedge funds squeezed. Hedgies leave voluntarily or get pushed out. Remaining hedgies pick over the remains. The circle of (hedge fund) life some might say. With fewer cartoon lions perhaps, and more carnivores.
Related links:
The Hedge Fund Implode-O-Meter