My hedge fund has lost about a third of NAV.. I don't know if the investors were told yet. It sucks, big time, especially since the job market is contracting right now.. I don't know the management's plans yet, whether they're in the process of liquidating or what not. All I know is we're down big, and lost around a third of capital, and I heard about enough hedge funds liquidating after 25 - 35% losses to have legitimate concern about the fund blowing up.