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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: carranza2 who wrote (83877)5/1/2007 7:35:54 PM
From: Wyätt Gwyön  Read Replies (2) of 206334
 
When the managers are taking 20% of the profits and who knows how much of the principal as management

i certainly don't want to defend hedge funds, but i doubt many "take" principal. assets are usually held by a third-party custodian. although there have been instances of fraud, with the perfectly legal incentives hedge funds get, who needs to be a criminal?

note that 20% is by no means the upper limit of incentive fees. SAC charges 50%. its manager made a billion in 2005.
en.wikipedia.org

remember, Warren Buffett, the most successful investor in American history, only charges $100K a year for his services.

the best way to become really rich in this country is to be a HF manager. the top 25 individual managers have annual salaries of around $350 million. no other profession comes close.

if dabum3 really has a money machine, he could clean up as a HF manager.
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