Candor counts when keeping investors calm
March 28 2005 - The worst nightmare of any hedge fund manager is not having poor returns, although that is certainly an unpleasant experience. The true worst nightmare, particularly for the fund of funds manager, is waking up and realising that one of your funds might be corrupt. This is the eighth circle of hell. (The ninth circle is when you are frozen in ice – in other words, people stop investing with you.)

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