The manager's advocate

Mark Yusko and Michael Hennessee may seem to be the dream ticket for hedge fund managers.

They each have extensive experience in hedge funds, as well as in endowment and pension funds and now, overseeing Morgan Creek Capital Management, in endowment consultancies. In addition, they are dismissive of small toe-in-the-water allocations by large investors.

Not surprisingly, both are also American. And not surprisingly, both are forthright in their views on the hedge fund industry, and those who s