18 July 2023: This year, Sussex Partners celebrates its 20th anniversary, a passage of time that has seen very many changes in and evolution of the hedge fund industry; high and lows, headline making implosions and spectacular successes, the loss of some legendary investors and new challenges yet to be met. Patrick Ghali writes a reflective contributed editorial for Hedgeweek, looking back as over 20 years of working with global hedge funds and offers a few thoughts on what the future might bring.