When John Muresianu left his post at Fidelity in the summer
of 2002 to start managing his own fund, many watched closely to
see if the long-only superstar could deliver in a long/short
equity setting. But his initial results at $120 million Lyceum
Capital, the Concord, Mass.-based hedge fund he founded in
October 2002, were disastrous. From its inception to June 2003,
the fund posted a 21.8%...