Now hear this hedge fund managers: It's okay to dine with your peers and talk about business ideas.

This sort of socialization was suspect in the aftermath of an "idea dinner" attended by people who worked for Soros Fund Management, Greenlight Capital, and SAC Capital Management and others. The event, sponsored by Monness Crespi Hardt & Co, was written up in the Wall Street Journal, and some--including Paulson & Co--were later contacted by the government to save their email and trading records. Talk about taking the fun out of dinner!

But Reuters reports that a six-month probe has been wrapped up with no recommendation to file any anti-trust charges. The concern at the time was that participants were conspiring to drive down the euro, as the dinner occurred at a time of currency upheaval.

It may be time to have a dinner party to celebrate. There will be plenty to talk about, now that 2010 hedge fund performance has become a big question mark again.

For more:
- here's the article

Related Articles:
Return of the hedge fund vigilantes?
Hedge fund honchos wonder if it's time to quit
Quantitative funds shakeout continues
Morgan Stanley to spin off hedge fund? More to come?