Your analogy to hedge funds is utterly inaccurate for most large funds. Smaller funds tend to take more bets but most large funds and fund groups attempt not to

Your analogy to hedge funds is utterly inaccurate for most large funds. Smaller funds tend to take more bets but most large funds and fund groups attempt not to take on too much risk. If you got to a conference for large asset managers you will hear almost nothing about how to make returns, instead on how to gather and retain assets. 2% on $2B (smaller end of medium size) is $40M per year.