料金のことはもういい
Once again the Oracle of Omaha and his sidekick have unleashed a barrage on the hedge fund industry and the “outrageous” fees managers charge. At their annual Woodstock of Capitalism the pair astutely pointed out that market volatility, combined with political uncertainty, has hurt performance at many funds. Despite this, what really seems to be most troubling to them is the fees hedge fund managers charge. While Mr. Buffett and Mr. Munger have a point (the fees ARE high), they are missing the fundamental issue – the free market. The market, you see, is what dictates the fees. When the market decides that hedge fund fees are too high, well, […]
自尊心を高めてくれてありがとう
Recently I received an invitation to an after party being thrown by some folks who I don’t think are actually attending the SALT conference in Vegas but will be in town during the event. Well, as any decent person would do, I answered that I’d be there, as I will be in the City of Sin for SALT again this year. A few hours later, I got a call from one of the hosts saying there had been a ghastly mistake. It turns out that this party is closed to anyone who is deemed to be a competitor to the hosts. Since the folks at Context Summits are one of […]