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> Nobody has ever marketed a fund or asset class with the tag line “we’ll likely tread water net, which is actually pretty impressive after we take out our mass

> Nobody has ever marketed a fund or asset class with the tag line “we’ll likely tread water net, which is actually pretty impressive after we take out our massive fees.” But it’s not nearly the disaster that’s so often claimed. So it's not theft or fraud, just merely a wealth transfer from the investors to the managers.

jmagaro88 8y ago
Hedge funds are not pro bono. People are still doing their jobs, and most funds are not run solely on a percentage of profit basis.
- jgalt212 8y ago
  true, but the implication is that if fees were lower then returns for investors would be better than treading water. i.e. an actual service is performed rather than a straight wealth transfer
  - a_t48 8y ago
    The investors are welcome to do that work themselves.