Hedge Funds Get Unfamiliar Taste of Losing nytimes.com

For hedge funds, just one week can change their entire year.

With the stock market shedding billions of dollars in value and uncertainty in Europe stoking fear, some funds are watching their returns sink by double digits while others are shooting the lights out. August, in less than two weeks, has brought a 13 percent decline in the Standard & Poor’s 500-stock index and roughly 12 percent drop in the Dow Jones industrial average.

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