Hedge-Fund Regatta Sunk By Market Crash

What’s the latest sign that Wall Street traders are really beginning to feel the pain? They’re cutting back on sailing. NYT:

[T]he fleet of financial professionals that turned out to compete in this week’s fifth annual Hedge Fund Regatta in New York was a bit thinner than last year. Only 17 teams entered in the contest, down from 30 teams a year ago, when the markets were just starting to go haywire because of the mortgage mess.

The New York Sailing Club runs the event and charges a $2,000 entry fee. Proceeds are donated to charity. Ironically, Lehman Brothers, perhaps the most troubled of the big investment banks fielded a team for the first time, while Goldman Sachs and JP Morgan, usually mainstays, were absent.

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