Profits taken by the truly hedged

The recent terrorist attacks, which created the single worst week in the history of the US equity markets, didn't take David Webb out of his game. The US equity markets might appear to be in a state of endless free-fall ' leaving ordinary investors with their incredibly shrinking portfolios ' but don't expect to see a frown on the face of Webb. So far this year, Webb has seen the $1bn hedge fund that he manages gain a whopping 40%. And this comes on the heels of a 56% gain last year.

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