IN the hedge fund industry, as in sports, performance is everything. So after several years of lackluster performance, the industry is increasingly turning to self-help programs, sometimes referred to as “mindware” products, to try to improve its game. To cater to this demand, a whole new cottage industry has cropped up in which statisticians track performance data, and coaches and psychiatrists work to help hedge fund managers make smarter decisions by getting them to talk about their personal histories and biases. The thinking goes that if an athlete can use coaches, why not traders? The idea is not new, but it has ... (full story)