This has turned out to be a year of milestones for the hedge-fund industry. It is a tale we have chronicled all year. As markets barrel into the end of the fourth quarter, it's worth reviewing the highlights from this year to see if we can deduce what might be in store for the 2&20 crowd in 2015.
The good news -- at least for the fund managers -- is that hedge funds continue to attract assets. The latest read is $2.82 trillion under management spread among almost 10,000 funds, according to HFR Hedge Fund Industry Reports.