The View From BlueMountain Capital Management

BlueMountain Capital Management may be a hedge fund in name but it has the culture and outlook of a budding institutional fund manager. Saskia Scholtes meets the three founding members of the New York-based firm

At the height of the 1994 interest rate derivatives crisis and just two short years into his career on the trading desk at JPMorgan, Andrew Feldstein received a worried phone call from his parents. Caught off guard by an about-turn in the Fed's interest rate policy, a series of derivatives users had suffered highly publicised losses, and newspaper editorials had taken to condemning derivatives products as the future cause of a vague and ill-defined financial apocalypse. Feldstein, a Harvard