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In recent months, we have seen hedge fund failures due to the subprime mortgage crisis. In the past, most of the time, we heard of amazing hedge funds like LTCM that earn excessive profits that went bust thereafter.
Here’s an couple of amazing stories regarding the humble origins of Citadel, a hedge fund that has enjoyed tremendous success and also its founder, Kenneth C. Grffin.
CNNMoney’s Article: A hedge fund superstar
New York Times’ Articles: Will a Hedge Fund Become the Next Goldman Sachs?
Here are a couple of stories on how Goldman Sachs made stellar profits while other banks and financial institutions struggle with the subprime mortgage crisis. It is interesting to note in the first article that the traders who helped Goldman Sachs to achieve the profits received only a simple thank you, indicating the extremely strong team culture within the firm. 
http://blogs.wsj.com/deals/2007/12/14/there-is-no-i-in-goldman-sachs/
http://www.independent.co.uk/news/business/news/credit-crunch-the-4bn-killing-765261.html
ClicK HERE for full story from Wall Street Journal columnist
