Hedgies spread the doom for a good cause

ONCE more, the hedge fund community unites for a good cause – this time not by shelling out enormous sums of money while being wined and dined at a charity gala dinner, a la Arki Busson, but by writing a book designed as a warning to policymakers all over the globe.

Tonight will see swanky nightclub Mahiki host the launch of the book, The Gathering Storm, which is the brainchild of Trafalgar Asset Management founder Lee Robinson.
In a nutshell, the tome involves 18 hedge fund managers and analysts contributing their penny’s worth towards the argument that the actions of central banks and governments the world over are laying the foundations for an even worse crisis to come, not solving the financial world’s woes.

Contributing are renowned bears Albert Edwards, SocGen’s global strategist; Oaktree Capital Management’s Howard Marks; financial expert John Mauldin, the author of the “Thoughts from the Frontline” newsletter; and others such as Kolonna Asset Management’s Patrick L Young, Arbuthnot Securities chief strategist James Ferguson, QB Asset Management co-founders Lee Quaintance and Paul Brodsky, and Avenue Capital chief executive Marc Lasry.

Despite all the doom and gloom, there’s a sunnier side to the book too – all the proceeds are going to around 20 charities of the authors’ choice.