One of the best explanations of HF performance. Emphasis mine. “Crudely, there are three ways to make money as a hedge fund manager,” said one large multi-billion dollar asset manager. “You can take advantage of trading technology, but few do. You can be more intelligent than others, but few are. “Or you can have some… Read more »

Three items crossed my desk last week that reminded me that we are not in a post-madoff world, we are in a post-trust world. 1. The first point was the headline grabbing news that Galleon founder Raj Rajaratnam was indicted for insider trading. One can only imagine how the blossoming networks of hedge funds, analysts… Read more »