Simon Lack

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

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.

AR also revisits political gifts from the MFA.

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.