Making choices

Over the years hedge funds have moved from being a closet activity to an institutionalised industry. What implications has that for the research process, hedge fund managers, fund of hedge funds managers and investors? The industry grew up looking at hedge fund managers themselves ' a bottom up process. There was no real consistent approach to how you allocated across different strategies. Being with the best manager may not guarantee the best performance, but having the best strategy will certainly help. It is essential to focus on allocating across strategies that have strong attributes...