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Leslie Brinkman is the founder and CEO of a hedge fund, Versutia Capital. Leslie spent late 2002 and early 2003 assembling her team and launched the fund in early 2003. While the firm performed well during 2003 and 2004 (both in terms of returns and new assets), in 2005 the results began to suffer. Describes the process of designing the firm, the resulting team dynamics, the strains on the staff and the impact of Leslie's management style on the performance of her team. In the spring of 2005, Leslie must decide whether to redesign the firm and / or change her management style, in order to address the performance issues that Versutia Capital is facing.