As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 11 hours ago
Mar 22 2012 | 2:39am ET
A skiing accident has put Philippe Gougenheim on the shelf, and with him his planned hedge fund.
The former Unigestion hedge fund chief had planned to launch his Glasnost fund in June. But Gougenheim recently ruptured an Achilles' tendon on the slopes, preventing him from travelling and further preparing for Glasnost's debut.
The fund, which Gougenhim hopes to raise at least US$50 million for, will now launch in September, Opalesque reports.
"I take this accident as a good illustration that one should beware of trends and be prepared for unpredictable events," he wrote on LinkedIn. "I started skiing when I was 4, I will turn 48 yet later on this month and never had any problem while skiing. Even if I have won a few competitions, I am a careful skier, but I was bumped into, which is close to impossible to prevent. The good news is that I was somehow prepared for this, as I was wearing a helmet and a back protector, and I strongly advise all of you to do the same, as the consequences of my accident would probably have been worse without these protections."
"I also manage money in the same way, being cautious about trends, and being prepared for external shocks and tail risks," he added.