Simon Lack responds to AIMA’s hedge fund cheerleading

“Given how poorly actual hedge fund investors have done how could new investors possibly think that they will make money going forward?”

Simon Lack, who first published his indictment of the hedge fund industry’s long-term track record on this site (Hedge fund IRR has been pathetic), recently took notice of AIMA chief executive Andrew Baker’s denunciation, published here, of the thesis Lack fully explored in his book The Hedge Fund Mirage: The Illusion of Big Money and Why It’s Too Good to Be True.

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