From the Editor: Hedge funds: saints or sinners?

Should hedge capitals remain unregulated? The debate has been intensifying at any time since the collapse of lengthy Term Capital Management (LTCM) in 1998 concentrated the minds of regulators and investors upon the potential for such circumstances to trigger a systemic financial crisis.

Increasing institutional participation in hedge capitals over the last few years has l to calls for empires requiring greater public and private disclosure of information by dint of these vehicles.

Hedge capital managers recoil at the idea of revealing details of their proprietary trading designs or portfolio positions, arguing that it would undermine their competitive proposition.

A novel discussion paper issued ...