Palm Beach hedge fund glitz fails to impress some investors

(Reuters)- Some of the largest investors in the world jetted home underwhelmed on Wednesday from a three-day blitz of meetings with hedge fund managers, unimpressed by their bearish outlook and cautious approach to markets.Many big-money clients – representatives of wealthy families, endowments and private investment firms in New York, London and Geneva – came to the Morgan Stanley Hedge Fund Forum at the $1,000-a-night Breakers Palm Beach resort in a sour mood, hurt by their hedge fund investments last year and so far in January.

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