Navigating the Hedge Fund Maze – October 2009

October was a strong month for hedge fund news, overall. There were some notable changes among the ranks of hedge fund personalities. James Simons prepared to exit the hedge fund stage; meanwhile, Zoe Cruz stepped into the spotlight by launching a hedge fund of her own.

Unfortunately, hedge fund news in October was largely associated with scandal. Between the Bear Stearns trial of Matthew Tannin and Ralph Cioffi and the disgraced Galleon hedge fund, there was plenty of bad press to go around. Despite receiving a black eye from the corrupt--or questionable--practices of Raj Rajaratnam, Tanin and Cioffi, the hedge fund industry doesn’t have a stigma attached to it. In fact, the average hedge fund has hired more than 17 percent additional staff since January, according to Heidrick & Struggles.