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It's pretty well known in finance that hedge funds can be among the most secretive types of investment firms.

Behind that, there's this idea that this secrecy and lack of transparency gives them an extra edge over their competitors.

But there's this one hedge fund manager who took a pretty unusual step within his industry.

He listed his firm on the stock market.

So if you're a public company, obviously you report four times a year,

you have to publish securities filings,

that's time-consuming and onerous, and you're subject to SEC regulation.

That's the FT's Wall Street editor, Sujit Endup.

He says that when a hedge fund manager named Daniel Auk

...