A forthcoming run on hedge funds . . .
September 26, 2008
. . . is suggested by this article. (See also "Hedge funds suffer mass redemptions" and the "Hedge Fund Implode-O-Meter".)
The last time hedge funds allegedly had to raise cash quickly, in June and July, we saw weird--at the low price, the dividend yield for BAC common was nominally 13.9%, while the CEO was announcing he didn't think any cut in the dividend would be necessary--results like this: