HAVE HEDGE FUNDS OUTGROWN THE MARKET?

hedge funds

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Since the massive bailout of Long-Term Capital Management in 1998, investors have poured about $600 billion into hedge funds, tripling the size of the industry in half a decade. Credit hedge funds, which are just beginning to catch up with their equity counterparts, have grown even faster. Every few weeks, it seems, a credit market maven leaves a prestigious bank or mutual fund for a small hedge fund, where nimble money managers can play the market unencumbered by the restrictions an