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Feldstein who Speared Whale Ready to Unwind Derivatives

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Andrew Feldstein, the Harvard-educated lawyer who leads BlueMountain Capital Management LLC, has had a good run.

His firm boasts just one losing year since it was started in 2003. Assets have swelled to $12.7 billion, and he has 150 people in New York and London helping him manage the abstruse derivatives contracts he likes to trade: credit-default swaps, collateralized debt obligations, synthetic CDOs, mortgage bonds, swaptions -- the alphabet soup of stuff that went bad in 2008.