To paraphrase Groucho

I wouldn’t want to belong to a club which wouldn’t have me as a member.

The running turmoil in the markets is stirring fears that more of these funds will fail, some, perhaps, spectacularly.

Sol Waksman, president of Barclay Group, an alternative investment database, said that three-quarters of the 1,241 hedge funds that have reported returns for January lost money.

“It’s that sad dawning when you realize the market is so much bigger than you are,” he said.

Plop plop, fizz fizz , take an Alka Seltzer, old boy.

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