The detention of “kamikaze” Chinese hedge fund manager Xu Xiang for alleged insider trading on Sunday after a dramatic manhunt was front-page news, but to industry insiders it was the chronicle of a downfall foretold. Renowned as the “captain” of the “Limit-up Kamikaze Squad”, a loose-knit group of fund managers centred around the port city of Ningbo, Mr Xu favoured bets that were big, bold and bountiful. The squad’s nickname salutes its ...
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