IP Freely scoops the Wall Street Journal

In a prescient comment on Amaranth just a few days ago, IP Freely wrote:
My bet is you will see many more of these implosions.

Today, the Wall Street Journal agrees:
As the Dow Jones Industrial Average climbs to record heights, many hedge funds are stumbling and more than ever are closing shop.

The latest to falter: Vega Asset Management. One of the world's largest hedge funds a few years ago, Vega has suffered losses from a bad bet against U.S. bonds, and is now down roughly 75% from its peak two years ago to about $3 billion in assets.

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Happy Super Tuesday!