Kurgman makes the point (briefly) that the incentives for hedge fund managers are only given for short term performance. That incentive means that they can look

Kurgman makes the point (briefly) that the incentives for hedge fund managers are only given for short term performance. That incentive means that they can look for strategies that won't blow up for a few years and make bank the whole time. It's not Ponzi, but it's not in the interest of investors (unless their money's in short-term enough to miss the implosion).