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Simon Lack: The accidental critic

Simon Lack spent years investing in hedge funds. In a new book, he now says investors have gotten a raw deal from these funds — and that they have themselves to blame.

    Simon Lack: Hedge funds have been a fabulous business and a lousy investment.Photographs by Michael RubensteinSimon Lack is an unlikely hedge fund critic. As the founder of the JPMorgan Incubator Funds, which seeded hedge funds, he spent several years evaluating and investing in hedge fund managers, giving them start-up capital

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