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Hedge Fund Guy Announces Hilarious Fee Cut to "Still Wildly Extortionate" Level
The hedge fund industry is in the midst of a slow-motion disaster, as its biggest investors come to the realization that the fees hedge funds charge make most of them a scam. One hedge fund guy is embodying the industry’s clueless resistance to change, in hilarious fashion! Just to “set the scene” for you here: hedge funds have traditionally charged their investors fees of about 20% of profits, and 2% of assets under management each year—meaning that a hedge fund with, say, $10 billion to manage would be paid $200 million a year even if it lost money. Investors have been willing to pay these huge fees for ... (full story)