4. Among the gargantuan hedge funds that make up a majority of the industry’s assets under management, dispersion of returns shot up to notable levels. And for every big winner, like William Ackman’s Pershing Square, there was a big loser to counterbalance it, like John Paulson’s Advantage Fund. Investors choose hedge funds for their “non-correlated returns,” meaning a tendency to move opposite from the general market’s direction. They certainly got such returns this year, unfortunately.
5. Dachis says: The end of year iPhone 5 and iPad Mini releases overcame early controversies in overseas manufacturing and any lingering effects from the death of Steve Jobs to make Apple the biggest mover of the year.
The block chain has such rich potential that there is an initiative underway to create additional “side chains,” though there is controversy around that idea. “We don’t really want to mess with the main block chain right now,” says Adam Ludwin, CEO of Chain, a block chain API that makes it easier to create bitcoin applications. “It works, we don’t want to break it.”