Ouch! Looks like Hedge Funds are not so lucractive anymore.
So what’s killing the golden goose? In a word: investors. It’s likely not a coincidence that as the number and size of hedge funds have swelled, hedge fund performance has sunk. Hedge funds’ success ultimately hinges on two scarce resources — skilled managers and exploitable market inefficiencies — and there simply isn’t enough of either one to support a $2.9 trillion industry. via Bloomberg Gadfly
The first mover advantage is long gone in this market. It appears to be moving toward the Startup world.