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Don’t panic: Ex-hedge fund manager on today’s stock market drop

Reacting appropriately to big sell offs is more art than science, says one former London-based hedgie

I remember days like this when I was a hedge fund analyst.

They started like most other ones: leaving way too little time to reach the train and then arriving at my desk with a cup of slightly acrid street coffee, black. Then there were news releases and analyst notes to review, followed by a conversation with a portfolio manager and a trader about what was going on. All this before getting into the meat of the day’s meetings or calls.

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