The Economist Features Paper by Professor Patton

11 April 2013 11:40AM

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On April 6, The Economist magazine featured Professor Andrew Patton’s working paper, “Change You Can Believe In? Hedge Fund Data Revisions” in an article titled Trimmed Hedges. The article discusses the practice of hedge funds to revise their performance data to appear better, or in some cases, worse than their unadulterated track record would suggest.

Professor Patton’s working paper tracked performance data from several thousand funds to find that almost half the managers subsequently modified their data.