Why business really matters


Looking around, one must sometimes wonder if there is a shortage of basic business acumen amongst the ranks of hedge fund managers. Sure, the industry undoubtedly has the most brilliant trading minds out there. But running a winning portfolio surely isn't the same as running a viable fund management business.

It might seem a strange observation to make in a publication called Absolute Return, but solid performance isn't enough to guarantee prosperity or longevity in the fund management business. That's a recurring theme that we will be exploring in the pages of the current issue, where funds continue to