When George Soros rented a new office by Manhattan’s Central Park in 1973 for his four-year-old hedge fund, he and his fellow “hedgies” were the lone gunslingers of modern capitalism. Shooting wild bets on little more than a hunch, funds lived – and died – fast. No longer. Over the past four decades Mr Soros’s fund has grown from $4m to $25bn, but he is now the grand old man of a maturing industry in which lone gunmen are no longer welcome.
1973年,乔治•索罗斯(George Soros)在曼哈顿中央公园(Central Park)为自己成立仅4年的对冲基金租了一处新办公室。当时,索罗斯和他的对冲基金经理们可谓是现代资本主义的孤胆枪手。这类基金几乎完全依靠直觉来进行高风险投资,它们飞快地创立,又飞快地关闭。如今,这种情形已不复存在。过去的40年里,索罗斯基金的规模已从400万美元增长到250亿美元,而他本人现已成为日益成熟的对冲基金行业的元老级人物——在这个行业中,孤胆枪手已不再受欢迎。