Leverage plus mayhem - a touch of midsummer madness or a midsummer market's dream?

leverage

"In finance, leverage (or gearing) is using given resources in such a way that the potential positive or negative outcome is magnified. It generally refers to using borrowed funds or debt, so as to attempt to increase the returns to equity."

Wikipedia (www.wikipedia.com)

Never before have hedge fund investors had such cause to focus on the leverage embedded in the strategies they follow.

Leverage levels have of course always been a key due diligence criterion in the investment process, but the