Head Rolls Over Global Alpha Fund With No Alpha

Well, a head has rolled at Goldman Sachs over the poor performance of its flagship Global Alpha hedge fund. Eric Schwartz, co-head of asset management, is being removed to the safe house. That someone's head would roll was predictable, although I predicted that Global Alpha's arrogant jerk co-managers would receive the lopping. They still might. What is interesting here is that the last tidbits about Global Alpha's performance that leaked out were for the first four months of this year. That Schwartz got the heave-ho now leads me to believe that things haven't gotten better and may have gotten, worse over the last two months. Total speculation on my part, but it makes sense. Anyway, we'll see. I hope we can go at least a few months without another multi-billion dollar hedge fund implosion story hitting the front pages.