Goldman Sachs's flagship Global Alpha fund recorded the biggest loss of almost any hedge fund in 2007. It started the year with $10 billion, made an estimated loss of 39%. The fund lost money after recording a 7.7% drop in the last full week of July 2007. It made a 6% loss in 2006 and a 40% gain in 2005.
Goldman Sachs Asset Management cut 20 members of its quantitative team as a result of a restructuring in March 2008.
http://www.opalesque.com/AMB2008/45022GAIM_Monaco_day_3_Goldman.html
Wednesday, September 17, 2008
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