Pessimistic forecasts for the future of the hedge fund industry seem to be widespread.
Fuelling such bleak predictions is what has been called a disappointing year in 2004. There is allegedly one nagging reason for the decline - which is supposed to have already begun.
It involves the drying up of the sources of hedge fund performance; in other words, the disappearance of market opportunities. More precisely, these opportunities would be becoming rarer because of the increase in the number of