The collapse of Weavering Capital (UK) Limited came quickly over an eleven-day period in March 2009. Multiple investigations are underway, and it may be some time before a full account is available. Meanwhile, the institutional funds that invested with Weavering are taking their write-downs, and in at least some cases are congratulating themselves on their diversification and the limited nature of the damage. We tell the lurid story of Weavering’s collapse and its impact on various investors, some of them domiciled in Sweden. We also highlight the potential impact of the Weavering story for the composition of boards of directors of hedge funds organized in the Caymans.