WSJ – The catchall term is used to describe an industry with an estimated $2.4 trillion in assets and an array of portfolios that feature dramatically different investment strategies, tolerance for risk and goals for returns.
“It’s a misguided term that tells you nothing” about the manager’s investment approach, says Jason Gerlach, president of the California Hedge Fund Association and managing director at hedge-fund firm Sunrise Capital Partners LLC in San Diego.
