When good hedge funds go bad

Law firm Maples and Calder thinks there is a misconception that hedge funds fail because there is something dark and rotten at their core, or some fraudulent malfeasance. Maples and Calder, a specialist in setting up offshore funds in the Cayman Islands, also tries to draw the distinction between 'honest and dishonest failure'. Its partners noticed that most funds disappear because they are just plain, old fashioned useless and get the markets wrong.