Donald Trump Jr., who recently announced the formation of a $1 billion Indian hedge fund that will focus on luxury real estate investment, may be jumping into the market too late, Prashant Gopal writes in a Business Week commentary. While the fund enters the market at a time when prices are declining after a five-year boom, Trump is facing established competitors, including Wachovia, Trinity Capital, Vornado Realty Trust and Tishman Speyer.

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