10 of 16
BACK NEXT
10. The Hedgie
Jeff Larson
Sowood Capital Management

Many hedge funds were destroyed by the credit crunch, including this one, famous for its high-flying manager. Larson had been a highly successful (and highly paid) manager of Harvard's endowment. At Sowood, he didn't see that problems in subprime mortgage securities would create a ripple effect strong enough to swamp his own bond investments.

By July 2007, his $3 billion portfolio had sunk by more than half, and what was left was sold to hedge fund Citadel. Investors, including Harvard and pension funds in Massachusetts, lost money.

NEXT: The Enablers
Last updated August 06 2008: 6:26 PM ET
Credit crunch isn't over Oppenheimer & Co. analyst Meredith Whitney tells Fortune that housing woes will force banks to keep taking writedowns. (more)
CEO misery index It's not just the average Joe suffering as the U.S. economy heads south. These top U.S. executives are really feeling the heat too. (more)
The trials of Jimmy Cayne Last summer the ex-Bear Stearns CEO was worth $1.6 billion on paper. Then he nearly died and Bear collapsed. (more)