“For the past five or six years, it seemed anybody could go to their computer and print up a business card and say they were in the hedge fund business, and raise a pot of money,” said Richard H. Moore, the treasurer of North Carolina, which invests workers’ pension money in hedge funds. “That’s going to be gone forever.” Crap. For the longest time we thought you needed to know, like, math. All we needed was paper. Why do we ALWAYS find out stuff like this when it’s too late? [NYT]
