Millions? You mean billions. You know your incentive structure is wrong (and people will never learn) when hedge funds don't actually hedge (their long/short f

Millions? You mean billions. You know your incentive structure is wrong (and people will never learn) when hedge funds don't actually hedge (their long/short fund fell the same as their long only fund), instead essentially gambling your money for you, taking 2 & 20 off the top for their trouble, while you eat 100% of the losses.