I find this difficult to watch. The only thing that would make this less difficult for me to watch is if he had his personal fortune invested in his hedge fund

I find this difficult to watch. The only thing that would make this less difficult for me to watch is if he had his personal fortune invested in his hedge fund also, and so was similarly wiped out. In which case I'd like to hear it. Otherwise if I was an investor I couldn't help but think: "sure, but you only lose our 2 and 20 this year, what happened to the 2 and 20 you made through the last few decades?". It would actually be an interesting law: "Operators of investments must have a higher fraction of their wealth invested in the fund than any of their investors". Obviously difficult to implement but the spirit of it is fascinating to me. That way, when a hedge fund fails, the entity which has been the most ruined by it (fractionally speaking) is the CEO. It'd create genuine skin in the game.