Hedge Fund Managers Set Up for Second Acts - NYTimes.com

Hedge Fund Managers Set Up for Second Acts - NYTimes.com: "The new fund, Mr. Gendell said in a letter to investors, would invest only in easy-to-trade securities and would not use leverage, or borrowed money, to improve its returns. Mr. Gendell vowed he would not collect performance fees until investors had recouped their previous losses. A spokesman said Mr. Gendell declined to comment."