This is horseshit.
Investors withdrew $15 billion more than they allocated between January and March, reducing money under management to $2.86 trillion from $2.9 trillion, Hedge Fund Research Inc. said Wednesday. The last time outflows were higher was in the second quarter of 2009 when $43 billion was pulled out.
Money managers have struggled to navigate turbulent markets, with hedge funds losing an average 0.7 percent in the first quarter after a 1.1 percent loss in 2015, according to the HFRI Fund Weighted Composite Index.
Simply put, what is 2% of $2.86 trillion? The hedge fund Ceasars are doing just fine.
While I loathe the industry with almost every fiber of my existence, despite being in it, it serves a necessary evil. Rich people need to delegate. It’s what they do. Delegating others to run their fortunes for them is one of their favorite pastimes. As much as people delude themselves into thinking rich people want zero commission brokerage firm accounts, they don’t.
All they want is 10-20% per annum, sometimes less, sometimes more. Consistent returns without headaches. Hence, 2 and 20 thrives.
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All they want is 10-20% per annum…. Consistent returns without headaches.
Bernie Madoff and Allen Stanford serve that segment.
Ark is officially sinking, fyi.
OT:
Congratulations to Harriet Tubman, who, at great personal risk, magically turned private property into human beings.
She will now retire Andrew Jackson and his wild hair from the front of the US$20 bill. A spokesperson for Jackson’s hair refused to comment on rumors that it would be playing a role in the Trump campaign.
LOL.