A Walk in the Park

As Robert Fairchild gazed deep into the amber numbers on his Bloomberg terminal, staring in disbelief that something called the Baltic Freight Index could actually plunge 97% in just four weeks, the private equity fund manager saw what appeared to be another historic opportunity. It was a vision that he had often during his ten years running money on behalf of pension funds and endowments; participating in both the inflation and deflation of the dot.com bubble, playing the housing market boom or bust with panache and loading up on commodities before they soared in value and dumping them before they peaked. This would be another walk in the park for his investors, he thought as his eyes locked on the graph – a slope steeper than any he had ever traversed during his vacations in Aspen, Colorado – and nothing brought him greater pleasure than making his investors money.

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