Some well-known hedge funds shut in 2015 as bets on oil go bust, returns sink

New York

LAST decade, Turney Duff lived in a US$9,300-a-month triplex in the New York City neighbourhood of Tribeca. He wore jeans to work and was able to do his job largely free of the red tape that could entangle those who worked in other parts of the financial sector. As a hedge fund guy, he had the sexiest job on Wall Street.

"You were part of the coolest fraternity on campus," said Mr Duff, who no longer works in finance.