Scott Burns chimes in on hedge funds today; briefly:
"You can have the fastest horse on earth, but he won’t do well if you
make him carry a heavier rider than all the other horses. That, of
course, is exactly what hedge funds do with their heavy, off-the-scale
management fees. ...
As a practical matter, hedge funds serve the same purpose for the well
off as lottery tickets serve for the common man ..."Read more: