Why hedge funds destroy investor wealth

Michael Edesess | EDHEC-Risk Institute | 30 August 2012

If all the money that's ever been invested in hedge funds had been put in Treasury bills instead, the results would have been twice as good. So claims Simon Lack – a former JPMorgan executive whose job was once to help steer billions into hedge funds – in his recent book, The Hedge Fund Mirage: The Illusion of Big Money and Why It's Too Good to Be True.

You’d think hedge fund advocates would immediately ...