On Tuesday, two big Boston hedge fund managers, Jimmy
Pallotta of Raptor Capital Management and George Noble of Noble
Partners, announced the decision to wind down their flagship
At the same time, both managers expressed frustration with
the hedge fund industry's focus on short-term performance -
particularly over the last 18 months, when the markets crushed
managers who didn't trade rapidly - and said they would come
back with newly engineered investment strategies.
Spokesmen for both firms declined to comment.
Raptor, a global long/short equity strategy which at its
peak managed some $7 billion, lost about 20% in 2008 and