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Buffet’s point was the people that make money in hedge funds are the managers, not the investors! I live 15 miles west of Wall Street in a suburb called Montcl
by YesThatTom2 3y ago
Buffet’s point was the people that make money in hedge funds are the managers, not the investors!
I live 15 miles west of Wall Street in a suburb called Montclair, NJ. There’s a neighbor of fancy mansions locally known as “hedgefund manager row”.
It ain’t called “hedgefund investor row” for a reason!
- Galanwe 3y agoHedge fund clients are mainly institutionals, not individuals, you obviously won't find "Oklahoma Pension Fund's Mansion". Also, most hedge funds have either a "pass through costs /performance fees", or "management/performance fees" (generally at 2/20%). Meaning they earn money on the absolute returns they make for their clients. But if you want to believe that the world is dumb and hedge fund managers earn money through clueless clients, sure. You might also want to checkout the arguments of flat earthers, it's in the same vein.