Thank you for telling me what I already know
Once again the popular press has come out against hedge funds and the lack of performance year to date. Congratulations, Barron’s and Forbes, you are now part of the club of financial journalists writing the same story over and over again. Whether performance is good, bad, or indifferent, hedge funds continue to be the evil that men and women do, according to these and other publications. I have two thoughts about this – first, yes, it is true the performance is poor – the numbers, you see, don’t lie – this is what makes investing great and, more important, transparent. The second is that investing is pure Darwinism – the […]
It is about process as well as performance
The sharks have smelled blood in the water, are circling, and are ready to chomp. Clearly, there’s excitement in newsrooms across the globe over a number of well-known hedge fund managers having once again suffered significant losses in November and that their year-to-date performance is abysmal at best. I won’t take time to name names; you can just plug “hedge fund performance” into Google to see who’s down and by how much for the month and year. And while the poor performance is troubling, I’m also concerned about the process they’ve been using. Understanding the investment process is key. It is important not only to know the managers’ strategy, but […]