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Its flagship fund plummeted 19 percent in value.
In 2008, the firm's flagship fund lost about 50 percent.
The firm's flagship fund attracted $1 billion in new money in August.
His flagship fund, Medallion, has had average annual gains of more than 35% for 20 years.
His flagship fund is down 20% so far this year.Hedgies' woes are not just financial.
"Gary's strength is fundamental research," said Blaine Rollins, manager of the flagship fund.
His firm's flagship fund, OZ Master Fund, lost 0.28percentt last year.
At Bridgewater, Mr. Dalio's $165 billion firm, the flagship fund, Pure Alpha, gained just 2.4percentt.
The government has now placed the operation of the flagship fund under review.
Citadel's flagship fund charges investors directly for expenses incurred, which are often higher than the industry standard.
His investors did not do badly, either — Mr. Tepper's flagship fund gained more than 130 percent last year.
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