Hedge funds have always had an air of mystery: their clientele is elite and their investing strategies just as camera-shy.  But gradually aspects, such as their use of leverage, became well-known to most people, even before the bubble burst on Long Term Capital Management.  Now, this author suggests ways for the industry to ensure more disclosure without jeopardizing the hedge firms' competitive edge.

What Can Hedge Funds Do to Enhance Transparency without Disclosing Proprietary
Information? (Perhaps they can only comply with AIMR-PPS® or GIPS®!)
Majed R. Mutaseb, Ph.D., Global Fund Analysis