More than 1,000 hedge funds worldwide will close in the next few months, most likely to be long/short equity strategies, according to Arthur Samberg of Pequot Capital.
Speaking at the Borsa Italiana conference in Milan earlier this month, Samberg said the short-term outlook for hedge funds is almost as bleak as for the technology and telecoms sector.
'There are a lot of similarities between the two ' both have great long-term futures and are dynamic,' he said.
Having run long/short equity since
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