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Byline: Heidi N. Moore The financial crisis long ago revealed the blustery truth about the wizards of Wall Street: They could be as self-dealing as they were brilliant. That was [...]

The article discusses the downturn of U.S. hedge funds. The closure of the hedge fund era is attributed to the downfall of Galleon Group co-founder Raj Rajaratnam, who is accused of insider trading, after years of growth between 1992 to 2008 and trading strategies by hedge fund managers. Figures show that hedge funds declined to an estimated 1.2 trillion U.S. dollars in assets. Also pointed out is the advantage of the lack of transparency for hedge fund managers and the importance of the character of a manager as a variable in evaluating a hedge fund.