# kaal:claim:2748096-010

**Claim.** Any conclusion that hedge funds contributed to the financial crisis of 2007-2008 is circumstantial or anecdotal, because the data needed to test it, on leverage, counterparty relations, AUM, and portfolio holdings, were not collected for any substantial period before the crisis.

**Type.** failure  **Support.** argued

**Holds when.**

- applies to retrospective assessment of the 2007-2008 crisis
- SEC systemic risk data collection began only after Title IV of the Dodd-Frank Act

**Source quote.**

> Without such data for a substantial time period before the financial crisis, concluding that hedge funds may have had a role in the financial crisis is circumstantial or anecdotal.

**From.** Wulf A. Kaal, Timothy A. Krause, *Hedge Funds and Systemic Risk* (2016), Hedge Funds' Contributions to the Financial Crisis of 2007-2008, page 5

**Cite as.** Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096

**Verify.** sha256 of source PDF `8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Krause%20-%202016%20-%20Hedge%20Funds%20and%20Systemic%20Risk.pdf

**Failure mode.** pre-crisis data gap  (family: data-quality-and-comparability)

**Topics.** systemic-risk, research-methods, risk-and-incentives, citation-and-knowledge

**Keywords.** data-gap, systemic-risk-measurement, dodd-frank, crisis-attribution

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.