No Paper Tiger - Far East markets bare their teeth

Richard Cardiff, chief executive of London's Coupland Cardiff, which runs the CC Asia Absolute Return Fund, notes that managers who have applied either trading models or investment processes that have historically worked well in Europe and the US to Asia will quickly find out that Asia's markets can dance to a different tune.

"You will always struggle to apply a western model to make money in Asia," he says. "Many have come and gone because they think they can do this. They say Asia's markets are