Update: Hedge Funds, Retail Investors & The Great Lie
The following is an excerpt from our August piece, Update: Hedge Funds, Retail Investors & The Great Lie, which can be found HERE
With the current bull market in stocks now in its sixth year, investors in hedge funds of all types are probably wishing they had simply bought an S&P 500 index fund. Hedge fund performance continues to lag the general equity markets as the self-proclaimed “smart money” attempts to intellectually defend their investment styles. But, in the high-fee world of hedge funds, where managers amass huge fortunes, we are beginning to see investors in the form of public sector pension funds balk.