Routine Inflation of Hedge Fund ReturnsFebruary 2008: High-profile fund implosions and continued economic turmoil from the sub-prime mortgage crisis have not diminished the love affair between investors and hedge funds. But new research by Nick Bollen, E. Bronson Ingram Professor in Finance, discovered that a significant number of hedge fund managers routinely and purposefully avoid reporting losses in their funds by marking up the value of their portfolios.
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