Thomas Zucosky, one of the true veterans of hedge fund investing, joins Opalesque founder Matthias Knab for a candid and wide-ranging conversation on four decades of financial innovation, hedge fund evolution, and investment philosophy. From his start in 1981 on the 104th floor of the World Trade Center to allocating to legends like Soros, Robertson, and Cohen, Zucosky shares a front-row seat to the institutionalization—and disillusionment—of hedge fund investing. 00:11:04 - Chapter 03Fewer hedge funds, less assets, more alphaHow surging assets changed hedge funds00:13:47 – Chapter 04How to recognize style driftHow the internet killed the information arbitrage early hedge funds profited fromThe come-back of global macro funds00:16:42 – Chapter 05The Institutionalization of Hedge Funds: Unsolved themes:The Fee dilemma The Alpha dilemma The Monitoring dilemma00:22:19 – Chapter 06Is there a right way to invest in hedge funds? Why hedge fund indices are completely meaningless00:25:09 – Chapter 07How to invest in hedge funds today? At Lucidity, he’s refined it further, leveraging technology to deliver real-time oversight of 15+ specialist PMs—each vetted for alpha generation and risk discipline.