Poor mutual fund choice, inappropriate asset allocation, the wrong risk level, inefficient tax management, and an unwillingness to let time do its magic will result in a less than desirable outcome.

FORBES: Investing Well Is Like Baking An Award-Winning Cake

By talking to prime brokers (the arms of banks that serve hedge funds), the authorities have also been able to monitor the aggregate level of hedge-fund exposure, and thus systemic risk.

ECONOMIST: A wrongheaded fund-management directive from Brussels