Hedge fund pioneer Martin Zweig has died at the age of 70.
Zweig is perhaps best-known for predicting the 1987 stock-market crash and for the newsletter he published for 26 years, the Zweig Forecast. But he also set up, alongside Joseph DiMenna, one of the earliest long/short hedge funds, Zweig-DiMenna Partners, in 1984.
In addition to its hedge fund, Zweig-DiMenna managed a pair of closed-end funds.
"He was a wonderful, kind and generous person, and I will always be grateful for the opportunity to have been his friend and partner," DiMenna said.
Zweig, a Cleveland native, studied at the Wharton School of the University of Pennsylvania, the University of Miami and Michigan State University. He is survived by his wife, Barbara, and two sons. No cause of death was given.