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Refco: The Reckoning.
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The article discusses the potential dangers of private equity firms and hedge funds for investors. Clients continue to flee the giant derivatives dealer Refco Inc. In bankruptcy court, other investment groups argue over Refco's futures-trading business. Some experts fear further hedge fund disasters. Yet the flood of money continues. Investors have handed over at least $65 billion to buyout firms so far this year. Refco is auctioning its most valuable asset: an ever-shrinking futures brokerage. Investing in companies that buyout firms and hedge funds take public is risky. INSET: A Swift Decline.
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