Hedge funds proved to be little more than leveraged beta bets in 2008. Now in 2009 they can’t even get that right. They trail the S&P500 by 4.8% year to date — having slipped badly lately. If only you could claw back some of your 2% management fee with a 20% penalty for underperformance.
What’s John Bogle’s number again?
(Via Zero Hedge)
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