From The Times
November 14, 2008

George Soros warns 'hedge funds will be decimated'
(Kevin Wolf/AP)

George Soros said in Washington that the hedge fund bubble had burst
Suzy Jagger in New York

Hedge funds will be decimated by the global financial meltdown and the crisis will wipe out as much as three quarters of the money they manage, George Soros, the billionaire investor, predicted in Washington yesterday.

His comments were made as he fielded hostile accusations in the US House of Representatives that hedge fund managers had enjoyed “unimaginable successâ€