Who could have predicted the rise of populism? Britons choosing to turn their backs on the European Union, Americans opting for Donald Trump as the next U.S. president, and Italians sticking with the status quo forcing the reformist Prime Minister Matteo Renzi to quit.
Surely, the brains behind the multibillion-dollar hedge fund industry could show the rest of us how to navigate uncertain times? Or would 2016 be another bad year for the industry? Who will find themselves on the naughty step and who went into battle on the behalf fo their investors? CNBC takes a look at the year that was for the hedge fund industry.