# kaal:claim:2748096-029

**Claim.** About 18 percent of hedge funds ceased operations in 2008, yet little evidence exists that these failures generated losses at prime brokers or other financial institutions, which weakens the direct transmission account of hedge fund systemic risk.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- hedge fund closures during 2008
- RAND Corporation study

**Source quote.**

> According to the report, about 18 percent of hedge funds ceased operations in 2008, although little evidence exists that these fund failures contributed to losses at prime brokers or other financial institutions.

**From.** Wulf A. Kaal, Timothy A. Krause, *Hedge Funds and Systemic Risk* (2016), POST-CRISIS EVIDENCE ON THE SYSTEMIC RISK OF HEDGE FUNDS, page 12

**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

**Topics.** institutional-design

**Keywords.** fund-failures, prime-brokers, transmission, rand-report

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