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FRM: Hedge funds' judgement as bad as 2008

One of Europe's oldest and largest investors in hedge funds has accused the industry of errors in judgement the likes of which have not been seen since 2008.

FRM says many in the industry resemble 'mice in a scientific experiment'
FRM says many in the industry resemble 'mice in a scientific experiment' Photo: iStockPhoto

One of Europe's oldest and largest investors in hedge funds has accused the industry of errors in judgement the likes of which have not been seen since 2008.

In a note published on April 6, the $12.3 billion hedge fund investor Man FRM said that some of the best-known managers had "violated a number of the most basic principles of money management and made some of the most dramatic errors of judgement since 2008".

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