"the easier it becomes to shift risk away from the players who actually ought to be holding the bag" That has nothing to do with fees. "$850 billion getting s

"the easier it becomes to shift risk away from the players who actually ought to be holding the bag" That has nothing to do with fees. "$850 billion getting shifted out of American pension funds into the pockets of hedge fund managers" That has nothing to do with fees either. Further what's the current score card? As stocks have been on a 10 year bull run, and hedge funds have been relatively underperforming.