手数料ではなく、パフォーマンス
The chorus of investors complaining about hedge fund fees is getting louder as performance continues to get softer. This past weekend, the Old Gray Lady once again featured a piece on why managers are doing all they can to quiet the sound coming from investors by offering new fee structures — a new take on the two and twenty that has been the standard hedge fund fee of late, but still higher than fees charge by traditional managers. And while I very rarely agree with the liberal-leaning New York Times, this week they may have got it right, sort of. Investors should be screaming about paying too much: Performance is bad […]
エイプリル・フール ニューヨーク・タイムズ
When I read the Op-Ed titled “How Hedge Funds Held Argentina for Ransom,” at first I thought The New York Times was publishing an April Fool’s joke. Once I got into the meat of the piece, though, I found out that I was wrong. The Old Gray Lady was continuing its chorus of anti-hedge fund, anti-capitalism, pro-big government and responsibility-shirking with a piece by Martin Guzman and Joseph E. Stiglitz on how “greedy” hedge fund managers took advantage of a country that could not pay its bills or act responsibly fiscally. These two leading thinkers of our time have clearly bitten off more than they can chew with this latest […]