>>>> JOHN M. GRIFFIN & JIN XU's Abstract concludes that "... our study >>>> raises serious questions about the proficiency of hedge fund managers."
me: >> Perhaps that's the wrong question. Doug Henwood wrote: > No, it's the right one. For outside investors, hedge funds and private > equity offer little advantage over the public markets. maybe, but (following Miracle Max) they could offer the special political benefits that arise when a bunch of rich folks form a club, what might be called the "Skull & Bones effect." This would compensate for any sub-normal returns compared to mutual funds or add on top of normal returns. -- Jim Devine (not a Bonesman). _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
