The Q2 / H1 hedge fund letters page is now up – as mentioned last time this will be more of a hedge fund news resource page. While the bulk and majority of the content will be about letters, we will also have links to conferences, feature stories and related hedge fund resources that may be of interest.
This post was started on July 1st 2017 as we like to get the hedge fund news up right away, but as the quarter just ended and we frequently update posts even six months after a time period has passed make sure to check back.
As always, before getting into the nitty gritty of hedge fund news and material we must state to protect ourselves from trolls that the links are not an endorsement whatsoever nor does any omission mean anything, besides for the fact that we do not find the letter interesting/newsworthy or we do not have access to it. Please see our legal disclaimers. More on lack of letters below.
Additionally, we do not do due diligence on hedge funds, while we would not "profile" funds we think are frauds (it comes up time to time) we are not an RIA or related and it takes a lot of time to and resources to do that due diligence. That is a job for experts and we in no way claim that you should or should not invest in these funds.
Hedge fund news Last updated 9/29/2017
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Why is hedge fund news so important? I will tell you why in my opinion and this is a topic we have been covering more in-depth as the situation looks increasingly dire....
Pension funds in particular invest hundreds of billions of taxpayer (YOUR money) in hedge funds - some of these funds are great and some well are less great. I would surmise a lot of money is invested in high cost/big name hedge funds which have too much money to beat the market in the long run nor produce much value in hedging and are costing pensions and taxpayers billions which would be better allocated to smaller active hedge funds or index funds.
The exact numbers are hard to come by but according to a recent report by Willis Towers Watson over $250B of pension money is invested in hedge funds and fund of funds which in my opinion is mostly a racket to make money on the spread. According to their own public records – New York City public pension funds alone have $4 billion in hedge funds and according to a recent Barclays Prime Brokerage report hedge funds have not generated positive alpha in six years.
Also, see our recent articles titled Thanks To HF Fee Structure, Pension Funds Will Pay $30 Billion Extra
The above is just one of many stats concerning the dire state of pension funds.
Additionally, the future of journalism is at a cross-roads. That can either be watermelon squeezing (if you want to even call that journalism) or holding our Government officials accountable for how pension money is allocated. In my opinion, that is way more important than most of the financial news media and the latest ticker quotes on what the FAMGA did today.
The above criticism was not labeled at anyone in particular and there are great FOFs, pension funds, big hedge funds etc. I meant as a general rule.
Anyway, without further to do the content!
NOTE: The list is in alphabetical order. To be completely accurate, while most funds listed below are hedge funds some are mutual funds or other (i.e. Berkshire Hathaway). The list is (mostly) in alphabetical order.
Also check out
2017 Hedge Fund News - Letters and more
Q2 2017 letters
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