"What knavery is this?" Turbulence puts potential pricing jacknapery in limelight, as investors seek risk control discipline

risk management

The current turmoil in global markets will have elicited a range of responses from different hedge fund managers. Some will be clapping their hands - volatility can be the lifeblood of some hedge funds, after all. Others will be staring at their screens in horror.What is certain, is that no hedge fund can ignore the market rollercoaster that first affected credit market before spilling over into equities. With some high profile banks - Bear Stearns, Goldman Sachs and BNP Paribas among them -