agree... I did find another article on it saying 97%http://www.bloomberg.com/apps/news?pid=20601213&sid=amfjPnq8fo6g&refer=home Too bad. I was thinking of pestering him to death to hire me for his clean energy company. I may still...
Boone was a mirror of the people he hired, and often times, fucked them out of the compensation they deserved for their ideas. A charlatan and nothing more.
The decline in his fund is somewhat humorous, but the year before with the big run up I believe his take of the profits was a cool $1B. I found his pimping his book on CNBC sickening at times, but that is the beauty of the hedge fund world. You only have to get it right for a few years, and if it all goes to crap later you pulled enough out in the good years to be sitting pretty. Just liquidate the fund and raise new capital. It is hard to imagine that the very wealthy actually give their money the the hedgies. Their whole sales pitch clearly says "I'm going to screw you, but you will greatly enjoy it".
People you have never heard of. He asks his analysts/consultants where they think the markets are going, pawns those ideas off as his own, bags the analyst and moves on to the next "lucky" underling looking to move up the ladder.
That sucks, if true. He certainly portrays the opposite in his latest book. Of course he'd look to meteorologists for advice, and fundamentals analysts, etc. I thought he handed out HUGE bonuses though too... (not last year obviously, lol). I need to pick up and non-authorized bio of the guy. Reading his book reminds me of things I dislike about autobiographies...
When I was reading the sections on BP Capital in the book "Hedge Fund Masters of the Universe", the thought came to me that this fund is gonna get it real bad someday. Their approach of sticking to and increasing losing positions as long as they strongly believe in their positions is a recipe for disaster. Without proper money management and a diversified portfolio, it doesn't matter if you have a 90% batting average. The 10% when you're wrong is when you blow up if you don't learn to fold 'em early.