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MAFC Research Papers Hedge Funds: A Walk Through the Graveyard No. 25 by Ross Barry Applied Finance Centre Macquarie University March 2003 MAFC Research Papers are generally by members or affiliates of the Applied Finance Centre, Macquarie University. Copies can be obtained by sending a cheque (payable to CMBF Limited) for $2.00 to: MAFC Papers Applied Finance Centre GPO Box 3480 SYDNEY NSW 1043 Alternatively, requests for copies may be sent by facsimile to the above address on 9850 7281(S
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   No. 25  byRoss BarryApplied Finance Centre Macquarie University March 2003 MAFC Research Papers Hedge Funds:A Walk Through the Graveyard  MAFC Research Papers are generally by members or affiliates of theApplied Finance Centre, Macquarie University.Copies can be obtained by sending a cheque (payable to CMBFLimited) for $2.00 to:MAFC PapersApplied Finance CentreGPO Box 3480SYDNEY NSW 1043Alternatively, requests for copies may be sent by facsimile to the aboveaddress on 9850 7281(STD code 02; ISD code 61 2).Copies of this and other MAFC Papers are available on the World WideWeb at http://www.mafc.mq.edu.au in Adobe Acrobat 'PDF' format.   No. 25 MAFC Research Papers Hedge Funds:A Walk Through the Graveyard  byRoss Barry* *The author gratefully acknowledges contributions from Rob Trevor of Macquarie University's Applied Finance Centre Applied Finance Centre  The contents of this publication may be reproduced provided the source is acknowledged.Published in 2003 byApplied Finance CentreMacquarie University NORTH RYDE NSW 2109 AUSTRALIAISBN No. 1 86408 832 XCopyright © 2002 Ross BarryPrinted in Australia by Macquarie University ii
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