Hedge Fund Managers Admit the End Is Nigh

May 14 (EIRNS) - A newly released book, "Inside the House of Money," by Steven Drobny, quotes from a number of hedge fund managers about the disaster ahead. Jim Leitner of Falcon Management, says: "Right now there are a lot of bad things lurking, but I'm just not sure when we're going to fall on the knife." Scott Bessent of Bessent Capital: "At some point, we will have the Big One. It's out there." A fund manager who preferred to remain anonymous, said: "When you look at the whole world and see what it's built on, it is totally, clearly, not sustainable."

Ambrose Evans-Pritchard reports these quotes in today's Daily Telegraph , adding that "regulators are now fretting, afraid that the funds have grown too big. They warn that speculators clustered on the same trades might lurch en masse across deck, capsizing the boat."