But the image of hedge funds as a high-stakes casino is rather unfair; most hedge funds quietly give up through lack of interest rather than collapsing.

但对冲基金行业被视为需要下注很高的赌场这样的形象是非常不公平的；绝大部分对冲基金会从缺少利润的项目中悄然撤出，而不是继续投机最后崩溃。

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Mr Madoff acted as custodian of assets that were placed with him and had no external administrator because he ran a brokerage, rather than a formal hedge fund, several investors say.

一些投资者表示，马多夫在担任受托资产保管人的情况下并没有任命外部管理人，因为他所经营的是一家经纪商，而非一只正式的对冲基金。

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He hinted that regulators might have to supervise large hedge funds directly, rather than indirectly, through Banks.

他暗示道监管者可能不得不直接监督那些大的对冲基金，而不再间接的通过银行来监督。

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If they invest it they put it in hedge funds rather than in companies that actually produce something.

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The competition within and between them will compete away those above normal profits rather than it being the class of hedge funds themselves which no longer offer the desired super-profits.

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For some, it may have to do with getting exposure to gold as an inflation hedge using a gold ETF rather than holding physical gold.

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