Do Hedge Funds Hold 'Trade Secrets'?

Bulldog Investors' Phillip Goldstein says yes, and he's preparing to launch a battle with the SEC over its 13F disclosure rule

Fresh from his June victory against the Securities & Exchange Commission—in which a federal appeals court tossed out a controversial SEC rule requiring hedge funds to register with the agency—Phillip Goldstein is gearing up for another battle. Within the next month or so, the activist hedge fund manager at Saddle Brook (N.J.)-based Bulldog Investors will file an application to exempt his fund from the SEC's so-called 13F rule that requires money managers with more than $100 million in stocks to disclose all holdings each quarter.

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