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Hedge funds bitten by the Indonesian beast

æNewÆ Indonesia looks a whole lot like æOldÆ Indonesia. CQS, Marathon, Highbridge and GLG are understood to be suffering woes at IndonesiaÆs latest reversion to type.

Once upon a time, Indonesia had a reputation for sharp practise. However, the balloon of epiphany went up after the Asian economic crisis of the late-1990s. The gatekeepers of Indonesia realised that, in business, their old game was up, and in order to obtain foreign investment, they would have to play fairly and decently. They did just that and everyone lived happily ever after.

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