The JOBS Act Is About More Than Jobs

摘要

It has been a tough year to be a hedge fund. Poor performance has taken its toll as regulation, high correlations, an uncertain Europe, U.S. govern ment acrimony, and a primary election campaign that looks more like the old Jerry Springer show than what we have come to expect from the tight ly organized Republican Party all have hurt returns. While 2011 was nothing to write home (or your investors) about, however, 2012 is beginning to show more promise. Though equity volumes are declining, performance actually is up. We may not know for some time whether the better performance on weak volume is the result of a prolonged dead cat bounce, a lack of bank leverage or the beginning of a new bull rally, but 2012 certainly will be different than last year.