One point everyone appears to agree on is that 2009 will be different. The environment in which hedge funds operate has changed, perhaps changed irrevocably.
Managers will need to multi-task as well as be multi-skilled to keep ahead in 2009. A plethora of challenges face funds from evaluating counterparty risk accurately or simply how to trade.
Survival is paramount. Funds and strategies that do not adapt to the new paradigm will disappear. Investors will want to see improved risk management,