Hedge fund investors want some comfort that they will not be entrusting their money to shady characters and, given that the regulatory environment does not offer any such assurance, a rating system for hedge funds is without doubt a decent idea.
In an ideal world, this oversight would be provided by funds of hedge funds or by the banks that evaluate hedge fund managers for credit. Sadly, though, a few funds of hedge funds are beginning to tarnish the credibility of the...
