Hedge funds may do a good job of shorting stocks and investing in futures, but when it comes to their own legacies, few have management succession plans or future growth strategies. This is according to a report from accounting and consulting firm Rothstein Kass, Reuters reports. In fact, 70% are ill prepared for the times ahead.

“Regardless of firm size, most participants have not taken all of the necessary steps to ensure a smooth transition in the event of a change in the senior management team,” said Rick Flynn and Alan Kufield, principals at Rothstein Kass.

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