Hedge funds have been accused of lots of things over the years. Being too open and honest is rarely, if ever, among them.
But with investment returns proving hard to come by, many hedge funds are being forced to placate nervous investors by giving them more information than ever before about exactly how they go about making money.
In conversations with leading figures, a picture emerges of a business populated with a depressed group of former high-flyers who are as uncertain about the future as everybody else.
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