Lehmans' third anniversary: How have fund managers changed?

The Federal Reserve’s decision to let the Wall Street institution go bankrupt sent shockwaves across the world: panic ensued and shares plummeted in what has been described as the craziest 48 hours ever seen in financial markets. The repercussions are still being felt to this day. The eurozone is in tatters, with a likely solution to the threat of sovereign debt default looking further and further away. Last month’s drastic sell-offs were a stark reminder of just how much the event had infected markets everywhere. This time round, however, many managers found themselves in a better po...