Do long-only hedge funds exist? No, assert some in the industry as an increasing number of hedge fund managers nevertheless launch long-only funds. "A hedge fund cannot be long-only and that is that," says one manager. "It's like Ferrari saying they're a horse-and-cart business."
It's easy to see why some hedge fund managers have taken offence. They've spent the past 10 or so years looking for cutting-edge trading strategies and...
