A research paper by four academics from different universities and published by the Federal Reserve in 2006 found no evidence that hedge funds destroyed value f

A research paper by four academics from different universities and published by the Federal Reserve in 2006 found no evidence that hedge funds destroyed value for the companies or were short-term focused.[1] I have not gone through the whole paper myself, but it was noted in one of the books I read recently (I forget which one specifically mentioned it, I think John Bogle's "Enough"). [1] http://www.fdic.gov/bank/analytical/CFR/2006/oct/hedge_fund.pdf http://www.fdic.gov/bank/analytical/CFR/2006/oct/hedge_fund....