Hedge funds run by women outperformed equivalent funds run by men, according to a Rothstein Kass report, perhaps because of differences in the way male and female managers perceive and respond to risk. That makes the relative scarcity of female fund managers "like discovering that tall people were vastly underrepresented in the NBA," hedge fund managing partner Whitney Tilson writes. Observers say the situation highlights a lack of diversity that became worse during the 2008 financial crisis.

Related Summaries