The Fall Becomes Clearer…Worst year for US hedge funds since 2008

Greetings,

It’s all starting to meltdown. The lies can’t be maintained. We are now on the precipice of a catastrophic event that will bring the house down.

All of the tricks are now worthless. the schemes are no longer viable. Welcome to the collapse and fall of America!!!~

Worst year for US hedge funds since 2008

US hedge funds are bracing for their worst year since the 2008 financial crisis after a dramatic sell-off in healthcare and biotechnology stocks triggered double-digit losses for some prominent players last month.

September’s sucker punch in the biotech sector, on top of a grim August when global markets tumbled due to fears about slowing growth in China, have pushed many hedge fund managers deep into the red.

David Einhorn and Michael Novogratz have slumped about 17 percent so far this year, and Bill Ackman declined almost 13 percent in a publicly traded fund.

Sean Fahey and Michael Platt have seen billions of dollars flee their firms and are now managing less than a third of what they oversaw at their peaks.

Six of the stocks that were most popular with the hedge fund set fell more than 20 percent last month, according to a report by Novus Partners Inc as quoted by Bloomberg.

The carnage added to a year of market twists and turns that included the unexpected surge in the Swiss franc in January, the rally in European government bonds in April and the surprise devaluation of the Chinese yuan in August.

The average hedge fund lost 19 percent in 2008 when the credit crunch hit. Since then, hedge funds have had only one down year, when they lost 5.25 percent in 2011, Reuters has quoted data from Hedge Fund Research as showing.

While the biotech sector held up relatively well during the initial market sell-off in August, it cratered in September.

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