Following Father Devine, my hypothesis:
the mediocre returns are for the average rich slob who invests, the super-normal ones are for the connected who get deals that are opaque to the cops and regulators and founded on inside information and influence peddling. Like Hillary's commodities trade. > ----- Original Message ----- > From: Jim Devine > > > >> JOHN M. GRIFFIN & JIN XU's Abstract concludes that "... our study > raises serious questions about the proficiency of hedge fund managers." > > Perhaps that's the wrong question. They might want to look at the > political connections and/or government subsidies that characterize > hedge funds. These would compensate for any inadequacy of competence > compared to mutual funds. One kind of subsidy that I know is that > hedge funds don't have to reveal anything to the SEC. Are there > others? > -- > Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own > way and let people talk.) -- Karl, paraphrasing Dante. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l >
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
