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HEDGE FUNDS A DYNAMIC INDUSTRY IN TRANSITION


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Publication Title | HEDGE FUNDS A DYNAMIC INDUSTRY IN TRANSITION

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NBER WORKING PAPER SERIES
HEDGE FUNDS: A DYNAMIC INDUSTRY IN TRANSITION
Mila Getmansky Peter A. Lee Andrew W. Lo
Working Paper 21449 http://www.nber.org/papers/w21449
NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue
Cambridge, MA 02138
August 2015
We thank Vikas Agarwal, George Aragon, Guillermo Baquero, Monica Billio, Keith Black, Ben Branch, Nick Bollen, Stephen Brown, Jayna Cummings, Gregory Feldberg, Mark Flood, Robin Greenwood, David Hsieh, Hossein Kazemi, Bing Liang, Tarun Ramadorai, and two anonymous referees for helpful comments and suggestions. The views and opinions expressed in this article are those of the authors only and do not necessarily represent the views and opinions of any other organizations, any of their affiliates or employees, or any of the individuals acknowledged above. Research support from the MIT Laboratory for Financial Engineering is gratefully acknowledged. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
At least one co-author has disclosed a financial relationship of potential relevance for this research. Further information is available online at http://www.nber.org/papers/w21449.ack
NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.
© 2015 by Mila Getmansky, Peter A. Lee, and Andrew W. Lo. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source.

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