Hedge fund IRR has been pathetic

Simon Lack, the former head of seeding at JPMorgan, cites research suggesting that all the money that’s ever been invested in hedge funds should instead have been put in Treasury bills.

By Simon Lack

Let me start by saying that I have many friends in the hedge fund industry. I’ve been investing in hedge funds since 1994. So my friends and other readers should regard what follows on hedge funds as friendly, constructive advice that will serve clients well.

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