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TUESDAY NOVEMBER 11
Sparx Loses Spark? Yet another crack in the Asian economy emerges, as the region’s largest hedge-fund manager (with $8.5 billion in assets) notches its steepest decline in almost a month in Tokyo trading after posting a first-half loss on redemptions and falling stock prices (funny that, falling stocks fueling falling stocks, eh?). But just how bad is it? On a scale of 1 to 10, we’d put it at about an eight, which is totally meaningless, as we are, after all numbers freaks. But it does have something to do with the fact that the fund is now slashing executive pay, freezing salaries and asking more than a dozen workers to take voluntary retirement. November 2008New User?Sign up to get free access to TraderDaily.com
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