Some People Are Less Excited Than Others About Meredith Whitney's New Hedge Fund

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"There's a long list of failed managers who look to raise money off of one correct market call made in the past, so no, I'm passing on this one," said Brad Balter, founder of $1.2 billion Balter Capital Management, which invests in non-brand-name hedge funds and alternative mutual funds. "This feels much less like a passionate manager launching a fund and more like an attempt to find another source of income post her old firm shuttering. Plus there are thousands of long-short equity hedge funds out there already—who needs another?" he added. "It's moving from a headache (clients) to a stomach ache (managing money)—but in her case it will be more like a full-on flu virus as she's managing headlines and the pains of managing a portfolio," one family office investor said via email. "She had a big call and hasn't availed herself since." [NetNet, earlier]

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