Hi Kevin,
Thanks very much.
All I can say is OMG!!!!! In fact, OMFG !!!!!
I knew these guys got a ton of money, but I had no idea it was THAT much.
In my view, Hedge Funds are an ingenious device to make a very few people spectacularly wealthy, at the expense of shareholders, who are mostly frittering their money away by funding these operations, and by agreeing to such absurd and obscene compensation schemes.
I am no expert on hedge funds, but I do know a bit. And I have seen little or no evidence suggesting that hedge funds are, as a class, anything other than a rip-off. I am sure there are a few who create a lot of wealth for shareholders, but the figures I have seen suggest these are like mutual funds: few can outperform their benchmarks. But they are even worse than mutual funds, because they expose you to sometimes unbelievable risk to achieve mediocre returns at best. And because they are very poorly regulated, they can just unilaterally institute policies that essentially take your money, and leave you with little or no legal recourse to recoup losses or obtain anything like fair treatment.
T |
