Hedge-Fund Destruction Is the Route to Salvation: David Reilly
Friday, March 6, 2009 : PermalinkBloomberg – Like plenty of financial players, hedge funds are taking a beating.
Many once-high-flying managers have been swamped by losses. Others have abandoned the business after discovering it wasn’t such an easy path to riches. Even some of the biggest firms — Citadel Investment Group LLC, D.E. Shaw Group and Tudor Investment Corp., among others — have had to block investors from withdrawing money.
This is great news for, well, hedge funds and their investors.
The retrenchment might force hedge funds, lightly regulated investment pools, to rediscover what they once were — small, guerrilla investors focused on returns, not artery-clogging management fees.
Tags: citadel-investment-group, citadel-investment-group-llc, e-shaw, easy path, great news, guerrilla, investment pools, investors, losses, management fees, money, retrenchment, shaw group, tudor investment
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