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Separating style drift from thoughtful hedging
"If handled incorrectly, non-equity hedges can lead to more trouble than they’re worth."
Scot NordenBy Scot NordenIf you’re an investor in hedge funds you’re probably familiar with the following situation. One of your managers has begun to invest outside of his original mandate, and you’re forced to ask yourself: is this a sign of thoughtful evolution or style drift? At the end
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