I guess this Bloomberg Businessweek cover story is very real and we have to talk about it. So, here you go, tell us in the comments how you feel about how Businessweek feels about your manhood. Be sure to reference the fact that the title of the story is “Hedge Funds Are for Suckers.” My own reaction seems best suited for a footnote.1
The story seems weirdly timed to alienate hedge funds just as they’re being allowed to start buying advertising, though I guess that doesn’t matter because they were all going to spend 100% of their advertising budget on Dealbreaker and give Businessweek a miss anyway. And it tells a pretty familiar story: once, hedge funds were small smart places that produced steady uncorrelated returns with significant positive alpha. Now, every idiot who wants to tweet lies about hurricanes or be an asshole on online dating sites is a “hedge fund manager,” and a lot of them don’t manage very well:
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