Our expectation is that there would be significant redemptions from the fund -- about $3 billion over the next three to six months,

Courts, jurors, even cops have this expectation that we can constantly pull rabbits out of a hat. It is just a physical impossibility that we are able to do that on every single case.

Rather than be some sort of revolution, it's more of an evolution for the hedge fund industry, which is increasingly being taken over by the new guard,

Investors don't want to be hassled, and hedge funds respect their right to privacy. That's very important to them. But now funds have to gain a level of knowledge that they're not managing dirty money. It's a fine line.

Investors don't want to be hassled, and hedge funds respect their right to privacy. That's very important to them, ... But now funds have to gain a level of knowledge that they're not managing dirty money. It's a fine line.

He is very opportunistic about investing,