Here is a nice article written by James B. Stewart of The New York Times:
In a letter to Pershing Square Holdings Ltd. investors this month, Bill Ackman disclosed that through the end of November, the fund had declined 13.5 percent this year after accounting for fees. The reality is that many hedge funds reap far higher percentages of their gains than that stated in their fee structure. That’s because when they experience substantial losses they don’t have to give anything back. Investors seem to be finally catching on to the fact that most hedge fund managers share generously in the good times, but are exposed to none of the losses in bad. READ MORE HERE:
Hedge Fund Math: Heads We Win, Tails You Lose
The views, opinion, information and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. The selection of any posts or articles should not be regarded as an explicit or implicit endorsement or recommendation of any such posts or articles, or services provided or referenced and statements made by the authors of such posts or articles. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting or tax advice.