March 30, 2007
On Wall Street, it’s now seen as imperative to stake a claim to the business of hedge funds, as margins on traditional business lines have shrunk. But as they scramble to build their franchises, the banks face rampant conflicts of interest, ongoing concerns about the impact of size on returns and still-lingering worries that the funds’ culture and independence will be lost. The money to be made, however, trumps it all.
March 29, 2007
As a sickly child in a family of 11 growing up in near-famine conditions during the Cultural Revolution of Mao Zedong, Matthew Li was not expected to survive. Now he sits atop a $1.8 billion hedge fund complex that he runs from a Park Avenue address overlooking the skyscrapers of Manhattan.