Market Folly: Hedge Funds & Alternative Asset Management Industry Aren't What They Used to Be
TraderMark
· 1 year ago
Steinhardt nailed this in 2005
"The young, aggressive fund managers that make up the new breed are charging ever-higher fees, even as returns are in the low single digits. "People whose returns are a small fraction of mine are yet so comfortable," Mr. Steinhardt said. "That suggests an incongruity that won't last."
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"The young, aggressive fund managers that make up the new breed are charging ever-higher fees, even as returns are in the low single digits. "People whose returns are a small fraction of mine are yet so comfortable," Mr. Steinhardt said. "That suggests an incongruity that won't last."