Discussing the present and future of the embattled hedge fund industry, Tiger Management's Julian Robertson - one of the most prominent names in the field - said that hedge funds are facing "the most difficult time I've ever seen in the business" his investing career (observing that "there are a lot of people squeezing shorts"), and warned that the days of charging hefty fees may be over. 

""That type of business hasn't worked lately, and it's a tough business," Robertson, 84, said Tuesday on Bloomberg Surveillance in New York. "It's tougher to be a hedge fund investor than ever before." 

Incidentally, the current debacle facing the hedge fund space, is something we have been warning about since 2012, when we predicted that as a result of central banks' having taken over the role of the market's Chief Risk Officer, there is implicitly no more downside risk, and thus no need to hedge; alternatively once central banks do lose control, no extent of hedges will compensate for the rout that would occur, which coupled with counterparty failure, would mean failure to satisfy obligations made under short trades.