To track some personally noteworthy events, observations and thoughts, letting them age and savor/regret them again a long time later.
Monday, May 18, 2015
More Hedge Funds close shop
So much of these hedge funds performance is just dumb luck but so well dressed up as skill. If they were that good than they ought to have seen the writing on the wall and return money to investors when they were riding high, but no they thought very highly of their skills. As usual pride goes before a fall and prior to that they were converted to their own self myth. Myth and reality just met each other.
Now they are using the regulatory hurdles as the scapegoat but if you have good performance that is never going to be a big enough reason for failing to perform. That is why some lucky ones are still in the business waiting for their turn to become unlucky.