An Address in Mayfair
Donald MacKenzie: How to Start a Hedge Fund, 4 December 2008
“... hedge funds tends to cluster: in part because those following the same general strategy will often light on the same opportunities (the number of attractive fixed-income price discrepancies, for example, is finite); in part because there is lots of chatter in markets about potentially profitable trades. You might think that if you’d discovered such a trade ... ”