Among the gargantuan hedge funds that make up a majority of the industry’s assets under management, dispersion of returns shot up to notable levels. And for every big winner, like William Ackman’s Pershing Square, there was a big loser to counterbalance it, like John Paulson’s Advantage Fund. Investors choose hedge funds for their “non-correlated returns,” meaning a tendency to move opposite from the general market’s direction. They certainly got such returns this year, unfortunately.
Historians now hope to dispel some of the myths about Richard, publicising evidence to refute claims that he killed the two young princes and focusing on what he achieved in his brief two-year reign, including the establishment of a system of bail and legal aid.112
Additional reporting from Stefan Wagstyl in Berlin437
May the bright and festive glow of New Year candle warm the days all the year through. Hoping you will have a wonderful time enjoying New Year that is happy in every way.890