Better than losing things like your life, family, house, possessions, etc, though it's unclear if the LPs have made it to the the 'perspective' stage just yet.
Some hedge funds suffered big losses from the market selloff this week in the wake of Japan’s earthquake. Funds run by Paulson & Co., Tudor Investment Corp. and Sparx Group were among losers, according to an update by Societe Generale’s Lyxor unit, which runs hedge fund-managed accounts. “Many in the Long/Short space have suffered 5% to 10% losses,” said Ed Rogers of Wolver Hill Asset Management, a Tokyo-based firm that invests in a range of Japan-focused hedge funds.
“We know of one fund that suffered a 40% hit, but that is an extreme outlier,” Rogers added. He didn’t identify the fund.