The NYT didn’t have the courage to use the word “zombie” in the title of its Dealbook post, but I don’t have such constraints (perhaps unfortunately). It does sound rather strange, but that’s still better than having your money trapped in one of these “hedge funds of the living dead” as they call it – funds that have suspended redemptions during the 2008 meltdown and are yet to liquidate. The article presents an interesting legal strategy if you are one of the unlucky (dare I say “cursed”?) investors – and for the rest of us as well. Unsurprisingly, part of the problem lies in a poor incentive system – in this case, the funds’ administrators don’t have any reason for rushing redemptions while they’re still collecting management fees.