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Soaring demand outstrips capacity

In late 1998, in the fallout from Long Term Capital Management's demise the industry was left for dead. Nearly two years on, the industry has weathered many more storms and now seems to be growing faster than ever.

"The hedge fund industry is in a state of accelerated growth," says Hunt Taylor, an industry consultant based in New York. "Despite the impression given by the closure of Tiger, the

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