August Was Brutal for Ackman, Cooperman and Loeb

August was tough on investors, and even some of Wall Street’s best and brightest got hammered.

Rocked by China’s instability, interest rate uncertainty and still-declining oil prices, the markets got ugly in August. And by the last week of the month, we appeared to enter correction territory.

All said and done, the S&P 500 fell 6.3% in August, and the Dow Jones Industrial Average saw its worst drop in five years. September may not be much better.

The hedge fund realm hasn’t been immune to the market’s volatility. The HFRX Global Hedge Fund Index dipped 2.2%. Some did better — and others did worse. Billionaire hedge fund managers Bill Ackman, Leon Cooperman and Dan Loeb were all hit hard.