Bring Open Source into Hedge Funds ( Hedge Funds are Hurting )

Business Week ^ | December 24, 2008, 12:01AM EST | Peter Algert

[Ernest_at_the_Beach]

The hedge fund industry is hurting. Perhaps more collaboration among funds will help

I read closely BusinessWeek.com's recent special section for CEOs about open-source software, and I wanted to offer some modest suggestions about what open source might do for the hedge fund industry. I run a San Francisco-based hedge fund called Algert Coldiron Investors.

Our industry is in a lot of hurt right now, and I want to see some open-source love, too.

The financial-services implosion was like an atomic bomb hitting our industry. It nuked profitability. Experts predict anywhere from 30 percent to 70 percent of hedge funds will disappear in 2009, and the survivors will see assets under management (AUM) fall by as much as 50 percent. And this is an industry where AUM had ballooned to well over $1 trillion in 2008.

[cake_crumb]

Ask George Soros to give the money back.