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,喬治•索羅斯(George Soros)在曼哈頓中央公園(Central Park)爲自己成立僅4年的對沖基金租了一處新辦公室。當時,索羅斯和他的對沖基金經理們可謂是現代資本主義的孤膽槍手。這類基金幾乎完全依靠直覺來進行高風險投資,它們飛快地創立,又飛快地關閉。如今,這種情形已不復存在。過去的40年裏,索羅斯基金的規模已從400萬美元成長到250億美元,而他本人現已成爲日益成熟的對沖基金行業的元老級人物——在這個行業中,孤膽槍手已不再受歡迎。