How Hedge Funds Rate Wall Street Analysts

Hedge funds differ from long-only managers when it comes to judging Wall Street research. Here’s what the funds want and who’s delivering it.

When they pull up the covers at night, Wall Streeters dream of hedge funds: hedge funds showering “buy” and “sell” tickets on otherwise torpid trading desks; hedge funds paying full commissions when other customers are pinching their pennies. Hedge funds!

It’s more than fantasy for the Street’s beleaguered institutional businesses.

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