The Transformation of the Hedge Fund Industry, With Dominique Mielle

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Dominque Mielle joins the podcast to discuss the transformation of the hedge fund industry, as encapsulated in her book 'Damsel in Distressed: My Life in the Golden Age of Hedge Funds.' Mielle's career in hedge funds spans three decades, a period of dramatic growth that has culminated with many investors today questioning whether it still makes sense to allocate to the asset class -- to the extent that it can even be called an asset class. The guest says hedge funds still have value in certain circumstances, but there are many forces working against them. She also has some views on markets and even cryptos that are discussed in the back end of the episode.

Content Highlights

(Spotify users can click on the timestamp to link to the start of the segment directly)

  • Her reasons for writing the book: very few women in hedge funds and the critical growth periods she observed in the industry (2:05);

  • So does the hedge fund industry have a future? (5:15);

  • What exactly has changed in the last 20+ years to make hedge funds less compelling? (8:02);

  • There is certainly less mystique around hedge funds, and the media now reports returns and other things regularly -- something the host himself has been guilty of. How has that affected things? (13:54);

  • Okay, so what is the value proposition for hedge funds? (18:58);

  • Background on the guest (25:36);

  • What if a woman wrote a 'Liar's Poker' of the hedge fund world? And why aren't there more women in finance? (31:30);

  • The guest's view of markets at present. Tapering is critical (40:23);

  • Her views on cryptocurrencies (44:47).

More Information on the Guest:

Not intended as investment advice.

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