Shocked? Boing Boing’s
Cory Doctorow writes: The Financial Times analyzed the stock picks of the
presenters at this week's Ira Sohn Investment conference in NYC and found that,
on average, following a hedge fund manager was a much worse bet than buying
passive index funds (though a couple hedgies did do pretty well last year, they
were dragged down by the spectacularly wrong advice from the majority):
But a Financial Times analysis of last year's tips shows
decidedly mixed results. An investor who followed every top idea from the 12
speakers last year would have made 19 per cent, less than the 22 per cent gain
available from a passive index fund tracking the US stock market. Many of the ideas have proved woefully
miscued, including some from the most high-profile managers who will return to
the stage on Wednesday: David Einhorn of Greenlight Capital and Bill Ackman of Pershing Square ….
Wait....wait...there's morfe at http://boingboing.net/2013/05/08/hedge-fund-managers-suck-at-ma.html
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