Slowly but surely

Michael Goldman is a smart guy, but experience has taught him that he will never know all the answers, so he keeps the volatility of his hedge funds, including the oldest, the AllWeather Fund, very low. Performance, of 88.8% net since its launch in 1995 is not staggering, but this is a small price to pay when you consider how bad it has got for many hedge fund investors over the past decade.

This $250m fund of funds has had only seven down months in more than five years and, like all Momentum

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