Hedge funds can finally use media and internet to solicit and advertise their servicies it’s not all good publicity for the buy side. Bloomberg businessweek came down hard on hedge fund industry displaying hedge funds for suckers and critisizing the industry.
The artice Hedge funds for suckers article via Businessweek.
I2008 group of famous hedge fund managers was made to stand before Congress like thieves in a stockade and defend their existence to an angry public. The gilded five included George Soros, co-founder of the Quantum Fund; James Simons of Renaissance Technologies; John Paulson of Paulson & Co.; Philip Falcone of Harbinger Capital; and Kenneth Griffin of Citadel. Each man had made hundreds of millions, or billions, of dollars in the preceding years through his own form of glorified gambling, and in some cases, the investors who had poured money into their hedge funds had done OK, too. They were brought to Washington to stand up for their industry and their paychecks, and to address the question of whether their business should be more tightly regulated. They all refused to apologize for their success.
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