John Meriwether shuts down his JWM hedge fund:http://www.bloomberg.com/apps/news?pid= ... 2lwUiCKGMM
He had his hey-day in the 80s, but perhaps it was all luck. Fooled by randomness so to speak...and black swans are more common than we realize
If you study much about it, it isn't "black swan" nonsense; it's just the effects of liquidity coupled with game theory, plain and simple.
Read some work of financial distress and fire sales; network effects; etc.