Trimming Hedge Funds

By Amey Stone

RISK-ADJUSTED EDGE. With the Federal Reserve expected to hike short-term interest rates further, the spread is likely to narrow more this year. That also means increasing expenses for hedge funds, which often seek to magnify their returns by borrowing money to invest. "Cheap money has been a big lubricant for financial markets in general and hedge funds in particular," says P

Too Cool for Crisis Management
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