Thinning the herd

One of the more remarkable aspects of recent events isn't just the number of fund managers caught in the credit crunch, but the pedigrees and operational sophistication of many of those managers now licking their wounds, a number of whom having resorted to barring investor redemptions, while at the same time contemplating the inevitable lawsuits that typically follow any extreme market scenario – that is assuming they are able to remain solvent.

These aren't primarily rough-and-ready, two-man

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