You have to hand it to Bloomberg BusinessWeek: The magazine isn't afraid to expose the shortcomings of its parent company's high-end high-paying customers. See, for example, the cover of its new issue pointing out that hedge funds, on the whole, have enriched their operators -- not their paying clients.
The cover graphic uses male-sex-organ imagery to compare high-fee hedge managers' supposedly virile and potent profit performance with their flaccid dysfunctional reality. Here's the story: Why Hedge Funds' Glory Days May Be Gone For Good
Will more state pension funds like Pennsylvania's drop their expensive hedge fund managers if returns don't improve? The industry has a marketing plan that could take up the slack: it's about to start advertising to a wider public.