Landis82, please don't take this the wrong way, but you are a disingenuous, self-contradicting, mouth-breathing idiot. Really.
After reading all of the arguments here that are pro fund-of-funds, I was still never convinced. Here's another example of not only why fund-of-funds are a bad deal for the investor, it's can also be a bad deal for the hedge fund. RCG Capital Advisors is a fund-of-funds and one of it's clients, a large financial company, needed to raise cash. Because RCG struck deals with the hedge funds to allow more frequent withdrawals, he withdrew $100M and that withdrawal caused the hedge funds performance to suffer. Now, why in the world an "large financial company" needs to pay fees on top of fees to get into hedge funds, I do not know. But if I ran a hedge fund, I would tell the fund-of-funds guys to take their money and stuff it, I don't need it.
Don't worry. I won't take anything that you say personally - - - especially coming from someone with over 6500 posts of worthless drivel.