BOSTON ( TheStreet) -- Hedge fund losses lead your quick fix of company, market, economic and investing news for Wednesday, Sept. 28, as titans like Man Group and John Paulson are losing big this year.
|John Paulson (Paulson & Co.)|
The Big Story
Man Group saw its stock plunge 20% after the hedge fund said its
asset base shrunk by 8.5% due to investor withdrawals. Hedge funds are the new mutual funds, plus the whole 2-and-20 thing.
If you think that's bad, HSBC does a stellar job of mapping out the
bloodbath in hedge funds. Note that John Paulson has three funds that are among the worst performers this year.
Quote of the Day"She was wrong, she is wrong, and she will be wrong," Alexandra Lebenthal of wealth management firm Lebenthal & Co. said of Meredith Whitney's call on municipal bonds.
Company NewsAmazon's (AMZN) new Kindle Fire tablet is already getting panned before it's even unveiled.
MarketsTim Geithner does not get enough credit as an evil genius. His latest Wile E. Coyote plot: Europe borrows more money using money it has already borrowed.
Investment StrategyChipotle's (CMG) run is tiring out as hamburgers rise up against the burrito.
Odds and EndsChris Christie has a very big to-do list each day.
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