(Benzinga) Citing Doug Haynes, the president of Steve Cohen’s investment firm, Point72 Asset Management, Business Insider reported the hedge fund industry has a well-documented performance problem, which is directly connected to a lack of diversity in the industry.
Hedge funds are suffering from groupthink, as they view the world the same way, the report claims. “It’s not just [that the potential hire] has the same color and same gender. It’s that they went to the same schools, studied the same thing, played the same sports,” said Haynes at a Manhattan event on Tuesday hosted by 100 Women in Hedge Funds.
