Editor's Letter - What's in a name?

I was having lunch the other day with a City analyst and inevitably we got to discussing hedge funds. We agreed to disagree on a number of issues, but the one we did agree on was that the current hedge fund model is well and truly broken. Perhaps even beyond repair. Okay, so there are still some funds out in hedge fund land that are somehow contriving to make ends meet, and dare I say it, even making modest returns, although the industry as a whole has been the source of too much bad news for to