Every day it looks more and more like the hedge fund industry was full of managers who collected fees, but did no management. According to the New York Times DealBook the SEC's Division of Enforcement is very busy digging into the business of about 150 such "hedge funds". In even more depressing hedge-news, Hedge Fund Law Blog reports that the SEC has penalized a hedge fund due diligence firm for recommending a fund that was really a ponzi scheme because they didn't do any diligence.
Tuesday, April 28, 2009
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