So while I toil away, here are three links (again, on hedge funds and PE firms - I seem to be in a rut) to keep you busy:
All About Alpha interviews Tom Schneeweis of UMASS on hedge funds, alpha, and risk. Here's the money quote: "I really do believe that most hedge fund managers want to believe they are wizards. When in reality, all they are doing is accepting certain types of risk. "Enough blogging - my grading beckons.
According to this Fortune magazine article on the distribution of PE firms, the majority of PE funds are well under$1 Billion in size - in fact, the average fund (once the top ten are excluded) has an average size of $180 million, if you don't count the top 10 firms.
Here's an overview of hedge funds (in PDF format), compliments of Michael Covel.