“The Mystery of Hedge Fund Investing” Amended
Sometimes a drawing captures a story much better than a lot of words. Yesterday, The New York Times published an image by Carl Richards entitled “The Mystery of Hedge Fund Investing. It shows a venn diagram that almost perfectly explains hedge funds. I’ve edited the drawing because it’s not really rich people who have fueled the industry’s growth. Rather it’s public pension plans that are head-over-heels in love with hedge funds.