Secular or Cyclical?

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I have a brand new piece up at CNBC.com about whether or not what’s currently befalling the hedge fund business is a cyclical or a secular problem. I conclude that it’s a bit of both, probably bending toward the latter.

I hope you like it, and by the way, I didn’t write this headline. I’m told this is the sort of thing that works really well on the web:

I’ve never seen anything like the massacre of the hedge fund business this year (CNBC)

 

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