Market Neutral Investing: Long / Short Hedge Fund Strategies

Afterword

A friend once told me a story about a dog that walked himself. A large German shepherd, this dog lived across from the city park. To get to the park, the dog had to cross a very busy street.

To cross the street, the dog found a solution. Each day he would position himself prominently on the corner, face the oncoming traffic, and aggressively bark at the cars driving by. Eventually, they would stop, and the dog, very much in control of his world, would confidently proceed across the street. On his return home, he would repeat his barking procedure and cross the street when the traffic stopped.

But one day on his return home from the park, the cars would not stop for him no matter how loud he barked. The dog became bewildered, no longer ...