September 9, 2008 --
Hedge funds - the daredevils of Wall Street - are backing away from risk, fearful of getting beaten up by the market's persistent turbulence.
JPMorgan Chase's Highbridge Capital and Phil Falcone's Harbinger Capital are among a growing number of big-name hedge funds that are hunkering down, moving into cash and reducing the use of borrowed money, or "leverage," to inflate returns, sources said. http://www.nypost.com/php/pfriendly/print.php?url=http://www.nypost.com/seven/09092008/business/hedge_hogs_hunker_128180.htm
