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Can Hedge Funds Stop the Sky from Falling?

Passport and Arcus risk managers say it won’t be easy to replace prop desks in a liquidity crisis.

       Passport Capital portfolio manager Timothy Garry Here’s a scary Wall Street movie scenario: A scandal hits an industry sector that has been a darling among equity traders — think tainted cold remedies or cars that spontaneously combust. Hundreds of traders decide they’d better unload all of their stocks in the industry

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