Meriwether calls from the pulpit for far greater transparency

Someone once said that a leopard never changes its spots.

Well, late last month at the Managed Funds Association annual networking conference in Miami, Florida, one of the hedge industry's most notorious managers tried to tell us that he had changed his.

Call it a revelation, call it seeing the light or maybe it was just the heat. Whatever the cause, it was quite a remarkable event. An event that will live in hedge fund lore for quite some time.

In February, John Meriwether, the former head of