The flagship fund of Lansdowne Partners, one of Londonâs biggest hedge fund groups, had its best month in September when a long-standing bet against Northern Rockâs shares paid off. Lansdowneâs $6.5bn UK Equity Fund, which had its worst month in August, jumped 9.7 per cent last month, leaving it up 21.5 per cent for the year so far. The fund made about $200m from short-selling Northern Rock, investors said. It also benefited from short positions â which pay off when prices fall â in financials and housebuilders, and from long holdings in mining stocks. The bounce came as many big hedge funds recovered from dire returns in August after correctly calling the Federal Reserveâs rate cut and the strong performance of emerging markets. âPeople are realising that thereâs no need to panic because things have come right back after the dreadful numbers in August,â said one fund of hedge fund manager. http://www.ft.com/cms/s/0/db3b08d8-737a-11dc-abf0-0000779fd2ac.html Opportunities, opportunities, opportunities...