Hedge Fund Fashion Victims
Harvard & Sowood: “In the past month, the university lost about $350 million through an investment in Sowood Capital Management, a hedge-fund firm founded by Jeffrey Larson. Mr. Larson managed Harvard’s foreign-stock holdings until 2004, when he left to set up Sowood, which recently lost more than 50% of its value amid bad bond investments.”
China & Blackstone: “O senior officials of the Chinese government, please do not be fooled by sweet-talking wolves dressed in human skin,” said one of several Internet postings compiled by an anonymous blogger on Sina.com, a Chinese Web site. “The foreign reserves are the product of the sweat and blood of the people of China, please invest them with more care!”
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