Beware of robber banks (RB), bad advisors.
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Iconic Hedge Fund Perry Capital Loses 60% Of AUM As Investors Flee
The slow-motion trainwreck that is the hedge fund investing world, which as we documented one month ago has failed miserably - if predictably - to compensate LPs for its 2 and 20 model, and generate outsized returns during a regime of central planning, having created zero alpha since 2011... .... took its latest casualty in the form of the once-iconic hedge fund Perry Capital. While it has not unwound just yet, the 28-year-old hedge fund run by Goldman alum Richard Perry, has lost more than half of its assets in less than a year after posting declines since 2014. According to Bloomberg, the firm’s assets slumped to ... (full story)
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"Bulls make money, bears make money, pigs get slaughtered"
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"Bulls make money, bears make money, pigs get slaughtered"