You know the hedge fund industry has hit a certain critical mass when Vogue magazine starts running profiles of fund managers. In an upcoming article on Daniel Loeb, it notes that the manager of Third Point is undergoing a reputation makeover. Loeb was known for his scathing memos, especially about companies that he deemed under-performing. For whatever reason, the man, who made $150 million last year, has decided he would like to be known as a kinder, gentler man, the type who would be a much better fit on the charity circuit. You have to wonder: As hedge fund managers become stars, what will become of returns? This may be the year to really bear down at the office. A good 2007 will likely distinguish one in spectacular fashion.

For more:
- here's a New York Post article
- more hedge fund news here