'Hedge fund collapse is on the way'

"Investors will withdraw $500bn – a quarter of the asset base – from hedge funds in the next year, leading to the collapse of a "large number" of hedge funds.

So spredicts Giles Conway-Gordon, managing partner of Cogo Wolf, a San Francisco-based fund of hedge funds, who believes investors are increasingly dissatisfied with industry performance, and that computer-driven quantitative hedge funds now simply run too much money to make healthy returns."