Are Hedge Funds Over?

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Over at The Conglomerate, Lisa Fairfax wonders if hedge funds can operate effectively as public companies. Indeed, the economic literature suggests that one of the things that allow for hedge fund success if their ability to take advantage of strategies that are unavailable to more regulated public entities. Perhaps more tellingly, Fairfax points out that "several experts have indicated that if hedge fund managers are selling, then it is probably not a good idea to be buying."
And you can count Daniel Gross as one of those experts. Gross's most recent column assembles five signs that hedge funds might be over. Very briefly, he says the smart money (rich people, hedge fund managers) is getting out and the dumb money (not-so-rich people, popular culture, newbie/wanna be fund managers) is getting in.
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