We have no idea what the beta of the fund is; it's difficult to talk about performance without knowledge of the fund's underlying risk The other problem is sca

We have no idea what the beta of the fund is; it's difficult to talk about performance without knowledge of the fund's underlying risk The other problem is scale - this is pretty evidently an advertising attempt in order to raise more cash. It's a lot easier to return 20% on, say, $100M AUM than it is on $1B AUM. To be fair -- these caveats are true for almost every fund you hear about. I do think that's kind of my big issue with the article though, that this fund is just like every other fund; it's intrinsically an actively managed portfolio with the same shortcomings as any other. It's just got a good publicist!