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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | The Role of Hedge Fonds before, during and after the global financial crisis of 2008 |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Date | 2020 |
| Abstract Text | The famous American businessman and financial commentator Jim Rogers once said, “Bottoms in the investment world don’t end with four-year lows; they end with 10- or 15-year lows” (Dhankar (2018, p. 55)). Uttered by an expert investor, this quote truly captures the extent of downturns in the investment world. Furthermore, this statement appears to be very relevant to investors since their money can be at risk. One of the most popular examples of stock market downturns in world history was the US stock market crash of 1929. During this four-day collapse of the market, prices began to decline rapidly (Amadeo (2019)). This downturn would later become famous as the worst decline in US history because the Dow Jones Industrial Average (a common index that represents the average US economy) dropped by 25 percent. This drop represents a total loss of 30 billion US dollars, which is equivalent to 396 billion US dollars today (Amadeo (2019)). But economic downturns or stock market crashes have also occurred in recent history, such as the global financial crisis of 2008. A significant body of literature refers to this crisis as a paradigmatic example of “systemic failure” (Friedmann (2011, p. 55)). Similar to the stock market crash of 1929, tremendous amounts of capital were lost as a consequence of the crisis. Therefore, investors are directly affected by these kinds of downturns. |
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