Tuesday, May 13, 2014

The Great Hedge Fund Mystery

Why do hedgies make so much? The New Yorker's John Cassidy can't figure it out. He asks for help.

1 comment:

Jim Gust said...

Because they are great sales people? Because some rich people are stupid? Because this time it's different? Because they can?

Warren Buffett has been making this point for years, and rather more persuasively.

Reminds me of the days when the Harvard alumni rose up in indignation at the modest fees being paid to run their multi-billion dollar endowment.