A decade in the evolution of hedge funds has proved to be a very long time indeed. Today’s industry is considerably bigger and more grown up but far from mature. The last three years have certainly not been the easiest but they have been eventful.
In January 2000 Long Term Capital Management was finally liquidated, the most high-profile hedge fund closure to date. This case was naturally dusted off and triggered a spate of speculation about the potential fragility of the hedge funds industry in S
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