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bdc63
Schumpeter Reincarnate

Joined: 16 Feb 2007
Posts: 4392
Location: Maryland
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D.B. Zwirn & Co., the investment firm that admitted last year to improper accounting, will liquidate its two largest hedge funds after being flooded with more than $2 billion in client redemptions.
http://www.bloomberg.com/apps/.....refer=home
Crank it up!!!!!!!!!!!!!!!!!!1 |
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gameplus
Dud?
Joined: 27 Feb 2008
Posts: 2
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Db Zwirn |
Posted:
Wed Feb 27, 2008 3:20 pm |
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Seems this has been coming for awhile. Any idea on whether they survive? |
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Aaron
A-Bomb
Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA
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We've been advised that this is more of an orderly shutdown based on an accounting foible than an "implosion" per se.
Not every shutdown is an implosion (for instance, we didn't implode the Tribeca funds). |
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gameplus
Dud?
Joined: 27 Feb 2008
Posts: 2
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DB Zwirn |
Posted:
Thu Feb 28, 2008 6:35 pm |
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Time will tell. Not sure I would believe everything management says. |
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Aaron
A-Bomb
Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA
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This was from a third party analyst, not management. |
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RichardCWilson
Dud?

Joined: 08 Feb 2008
Posts: 20
Location: Cambridge, MA
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Crazy to think that an accounting mess-up could close a whole hedge fund. That might have been one one or two portfolio manager's shot at running a large hedge fund. |
_________________ - Richard
Richard C. Wilson
Hedge Fund Consultants Blog
http://richard-wilson.blogspot.com |
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Aaron
A-Bomb
Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA
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Well people are jumpy now. It doesn't take much to trigger a run on a hedge fund by investors. |
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notjustanindex
Dud?
Joined: 06 Mar 2008
Posts: 1
Location: New York
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RichardCWilson wrote: |
Crazy to think that an accounting mess-up could close a whole hedge fund. That might have been one one or two portfolio manager's shot at running a large hedge fund. |
Did you forget Archeus so quickly and they were much larger! |
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rebel
Dud?
Joined: 13 Jan 2009
Posts: 1
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The possibility of hedge funds like DBZ's charging performance fees on locked up money has diminished greatly. |
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