It was a horrible year for hedge fund managers. But not for these smart traders, most of whom bet correctly that the Western economies would nosedive

The hedge fund industry was on a high just a year ago. Today it is racked by volatility, losses and a credit squeeze. A large number of the world’s 10,000 hedge funds are closing down while the stellar reputation of many others is in tatters....

Shifting Goalposts

Investors who bought deep discount bonds of Sardar Sarovar Narmada Nigam Limited (SSNNL) are in a fix following the Gujarat government issued notices for “compulsory premature redemption” after passing an enabling legislation. Some have filed petitions against the redemption. Others are confused about the consequences of not signing the discharge form. The SSNNL bonds of...

The behaviour of stock markets in the past one year has scared off many investors. Plus, there are various studies floating around which seem to indicate that, over a 10-year period, investing in equities has not been paying. The fact is that all this data are being compiled at a time when the world is beset with a financial crisis of an enormous magnitude.

Equities, to me, represent the...