"Stan who?" Hate to say it, but in a certain way, retail is right to be saying this......The annual returns posted by Druck, Buffett, PTJ, Cohen over the last decade leave a lot to be desired....Gundlach used to be a pretty reliable macro guy, but his calls have been terrible for the last several years ("10 year definately going to 6%")....the last 2 comments by Dalio at Davos were "you are going to feel pretty dumb sitting on the sidelines" in January 2019 right before stocks plunged -20%, followed by "cash is trash" in January 2020 right before stocks took another -25% haircut. Guys like Druckenmiller are legends, no doubt.....but recent years have shown them to mostly be just as confused as the average trader. Edit: Also take a look at the latest buys by Tepper's Apaloosa and Klarman's Baupost....these guys are plowing into Google, Facebook, and Microsoft after the huge run they've had for the last decade....probably the most well-known trade in the world right now....starting to wonder what the hell the clients are paying 2-and-20 to these guys for?
It’s possible: https://www.elitetrader.com/et/threads/interactive-brokers-statistics-for-2020.344719/
The vast majority of hedge funds underperform the market on a long enough time frame. They're paying for the name. The ability to say XYZ manages my money.
2% of a large sum of money every year is a lot of loot. Who needs the unpredictable 20%? Just give me that 2%!