Octavian Advisors Is Closing Its Doors Because Investing Is Hard

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Octavian Advisors, a roughly $1 billion hedge fund firm specializing in distressed investments, said it was shutting down, becoming the latest casualty of tough market conditions as it suffered double-digit losses..."We are deeply frustrated by a market that is driven almost entirely by macroeconomic and political decision-making in the short and intermediate term, where idiosyncratic investments and analysis are overwhelmed by the broader backdrop, and where 'events' have become more and more difficult to effectuate and analyze," founder Richard Hurowitz wrote a letter to investors. [Reuters]

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