Artradis collapse a failure of judgement, not risk management, says co-founder Diggle

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Stephen Diggle, co-founder of Artradis, the Singapore-based hedge fund that closed with losses of $700 million in February, refuses to blame risk management shortcomings for the downfall of the hedge fund. But he admits his judgement could have been better. "We bought lots of an asset that was not performing - from a trading point of view we should have stopped earlier. It's not a risk management failure," he says. "Our job was to be long volatility. Our judgement was poor but after making a