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Dec 6th, 2017
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Joined: Aug 2005
Posts: 6,388
old hand
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OP
old hand
Joined: Aug 2005
Posts: 6,388 |
Keynes was prescient: It's like a game of musical chairs, you can't get a chair when the music stops. It has been a bruising year for hedge funds. Big bets have been disastrous, investors have voiced discontent and some managers have been forced to rewrite their playbooks or call it quits.
And now, there is new data to rub salt into the industry’s wounds: Over the last three months, investors pulled $28 billion out of hedge funds, according to the research firm Hedge Fund Research. It is the biggest quarterly outflow of dollars since the depths of the financial crisis in 2009.
So far this year, more than $50 billion has flowed out of hedge funds — much of that from the industry’s biggest and best-known hedge funds, Hedge Fund Research said in its latest industry report, released on Thursday. Couldn't have happened to a nicer lot. 
"The liberals can understand everything but people who don't understand them."
Lenny Bruce
"The cleverest of all, in my opinion, is the man who calls himself a fool at least once a month."
Dostoevsky
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Joined: Feb 2006
Posts: 12,129 Likes: 257
Pooh-Bah
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Pooh-Bah
Joined: Feb 2006
Posts: 12,129 Likes: 257 |
As far as I can tell, hedge funds are just like mutual funds with a lot more options for the managers. They only accept rich clients and for good reason: Rich people can afford to lose more money.
Frequent trading is a good way to lose a lot of money, if you do it yourself or have a hedge fund manager do it for you.
I like BDCs a lot better: They usually pursue much more conservative things like business loans with senior notes (so they get paid back first). They have to pay 90% of their profits to the investors as dividends each quarter. For example, Apollo Investment is paying 10% dividends now. Was over 14%.
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