Damian Handzy, CEO of Investor Analytics, sparked off discussion on the after-effects of the banking meltdown on the hedge fund industry in the latest edition of the Naked Short Club.

Other guests joining host Dr Stu for the hour-long radio programme included Louis Gargour, chief investment officer of LNG Capital, Margie Lindsay, editor of Hedge Funds Review, and poet Pele Cox with Jeremy Evnine, president of Evnine Associates, joining the discussion from San Francisco.

The group agreed that everything and nothing had changed since the crisis. While there have been heightened regulatory scrutiny of hedge funds there was remarkably little change in attitude by some of the main players.

Handzy also looked at the management of risk and questioned whether any real progress has been made in risk management given the manifest failure of traditional linear/normal approaches to it.

Gargour looked at investor appetite for hedge funds as well as risk. Specifically he believed the fixed income and credit markets have been attracting increased interest although the distressed and restructuring story has not played out to the extent some had expected.

Evnine examined the growth of algorithmic trading and what this could mean for markets in the future.

Music interspersed between discussions included the Orb, Gong, Jimi Hendrix, Sonic Youth, Terry Riley and Led Zeppelin.

Feedback on the show should be directed to presenter and host Dr Stu.

The N@ked Short Club broadcasts on Mondays from 21.00-22.00 GMT and is replayed from 15.00-16.00 GMT every Thursday on not-for-profit ResonanceFM at 104.4FM in London or via the web.

Resonance 104.4FM is a not-for-profit, UK-registered charity supported entirely by grants and voluntary donations.