Due to the overwhelming amount of news coming out of Hedgistan last week, we take a break from our usual in-depth analysis and opt for more salacious stories of hedge fund carnage…

Mea Culpa Capital Management, LLC

Thanks goes out to AllAboutAlpha media partner Opalesque, for assembling a number of recent letters to investors from quant managers.

In case you don’t have the time to read them all, we’ve provided our take on the main points below:

AQR: “Okay, so computer models don’t always work.  But that’s only part of our business.  We have tons of other funds!  Move along now folks.  Nothing to see here….”

BGI: “This creates lots of new opportunity if you have the capital.  And hey, we’re huge!”

Black Mesa: “Couldn’t stand the heat…Got out of the kitchen…Still really hungry, though, and plan to raid the fridge at the earliest possible opportunity.”

Highbridge: “Hey.  Look around.  It’s not just us!”

Renaissance: “Hmmm.  It seems that other funds had the same trades as us.  Who knew?!”

Sowood: “I guess our kids aren’t going to get into Harvard now, right?”

More…