And people thought Cathie Wood was bad. At least she only charges 75 bps not the 2/20 scam that these thieves demand. Imagine paying $500M to lose 50-60%.
Chase Coleman, founder of Tiger Global Management, and his wife, Stephanie Coleman, at a charity event in 2016. Will they still be invited to charity events in the future? Will he do the honorable deed and commit Hari Kari?
Like any field, hedge fund manager is a very loose term applied to anyone who runs a hedge fund. Timothy Sykes used to own a $10 million hedge fund with most of the monies of that hedge fund coming from a friend. He lost a good chunk of it. The very best traders who are hedge fund managers the likes of Paul Tudor Jones, Ed Seykota, etc. are able to beat the stockmarket most years, getting returns of 18% on average. Now, they have losing years too, once, in a while. Michael Covel's Trend Following book details the returns of the various top hedge funds. That said, hedge funds are like elephants in a pond. They cannot move with the speed retail traders can. So, they cannot unwind a position in a stock just like that. It could take them months to unwind a position they want to get out of or get into. So, the amounts they can earn is restricted by that fact. It is way harder to move tens of millions of dollars than to get into a trade with tens of thousands as retail traders can.
Next year the hedge fund category will be split in hedge fund and crash fund. How on earth can you lose so much money each month this year?