It depends. If you actually made 10% a year, every year for 20 years, and never lost money: A) You are either Jim Simons or Bernie Madoff. B) Investors would

It depends. If you actually made 10% a year, every year for 20 years, and never lost money: A) You are either Jim Simons or Bernie Madoff. B) Investors would be tripping over themselves to pay 20% fees.