The News: Risk, Transparency is Becoming Very Important to Hedge Funds

Hedge funds see the worst of the financial crisis behind them, but they're a bit cautious about the future. An update of Ernst & Young's annual survey of the largest global hedge funds finds their leaders thinking a lot about risk management, transparency and due diligence, not to mention growing pressure to revamp their fee structures.

Government oversight and confusion over what the regulatory landscape will look like in the short term also figured prominently among managers' concerns, according to the updated survey, though surprisingly most managers feel they're ready to meet whatever requirements are eventually put into play.

Surprising, indeed. It seems a lot of people feel like they know what form regulation might take in their sector.

Hedge Funds Are Gradually Recovering From Crisis [Seeking Alpha]

Democrats Use Goldman to Push Bank Overhaul [NY Times]

Goldman Girds for War [Daily Beast]

Will More Caution Equal Less Profit for Goldman Sachs? [Daily Finance]

Principal's McCaughan Says Volcker Rule May Help Stem Conflicts [Bloomberg]

Wells Fargo Takes Private Bank East For Growth [Dow Jones via Nasdaq]

Ex-Broker's Bail Revoked In ARS Case [WSJ]

Morgan Stanley To Open Office in Poland [Morgan Stanley]

Because, you know, we hear Warsaw's lovely this time of year.

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