Hedge funds might worry where the volatility went

chet currier

In the strange year of 2004, many of the big news stories have been about what didn't happen. Contrary to widespread concerns, terrorists didn't manage to disrupt the US elections. Neither did the lawyers afterward.

Deflation and inflation both failed to derail the world economy. In defiance of what all the smart money was sure would happen, rising interest rates didn't knock the bond market for a loop. So it's only fitting that the stock market produced a 'didn't' story of its own.

Volatility