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kewlsunman
United States131 Posts
On June 06 2009 18:11 TheFlashyOne wrote: heavily copy-pasted, but still a good collection I wrote this entirely myself. I find it offensive that you would accuse me of plagiarism without any concrete evidence. | ||
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Schnake
Germany2819 Posts
Probably gonna have to print it though or take some quality time for this.  Thanks a lot for your effort, I appreciate it and if my limited budget will allow me to try this guide, I will post my results.  | ||
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kewlsunman
United States131 Posts
On June 06 2009 17:22 InsideTheBox wrote: Your assessment of hedge funds, fund of funds, ETFs, etc is extremely biased. It's frequent practice for the manager/CIO of a hedge fund to invest his own capital into the fund that he's running. Even if this were not the case, there's plenty incentive (read millions of dollars) for managers to try to "beat the market." If I'm a multimillionaire, and not extremely risk averse, hedge funds may be a smart investment given some research. Just as a note; the hedge fund industry in general is up about 9% YTD. What you say is true, and there certainly are some great hedge funds out there that consistently outperform the market. However, I do have a few rebuttals: 1) There aren't many multimillionaires on TL.net :D 2) Hedge funds, as an asset class, have not earned greater returns than the market over the long-run. No asset class has as far as I'm aware. If you have any sources that can prove me otherwise, I'd be very happy to admit that I'm wrong. But as far as I'm aware, I don't think there has been any evidence of an asset class outperforming the equity market in the long-term. 3) The hedge fund industry right now is experiencing extreme survivorship bias. The number of hedge funds has shrunk considerably, and right now, only the best are still in the game. Average hedge fund performance, then, is skewed considerably upwards right now, and is not really indicative of how hedge funds as an asset class have fared. 4) Returning 9% YTD is great, but that's before fees. Do you know the numbers after the managers take their cut? I'm not against the hedge fund or ETF or mutual fund industries. I just think that the average investor can do quite well for himself without getting too involved in that stuff. I don't think that's bias, so far, all the numbers seem to suggest that it's fact. (Also, as a personal disclaimer, I'm a big fan of certain hedge funds--SAC, ESL, Renaissance, Greenlight, all have great track records and great managers.) | ||
Empyrean
16993 Posts
Great work, this must've taken considerable effort | ||
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SiegeTanksandBlueGoo
China685 Posts
I just have one question, kewlsunman, can you give us some background on who you are? Not anything too specific, but maybe where you got your education, what you do now, etc. You sem really knowledgeable but I think it'll help if we know that this comes from a good source, not my neighbor's friendly dog. Thanks so much! | ||
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pokeyAA
United States936 Posts
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Archaic
United States4024 Posts
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Fontong
United States6454 Posts
On June 07 2009 04:04 kewlsunman wrote: I wrote this entirely myself. I find it offensive that you would accuse me of plagiarism without any concrete evidence. Don't worry, your accuser is somewhat lacking in common sense. I guess I'll read this massive guide after finals. | ||
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tyr
France1686 Posts
I was just wondering : do you work in this financial world ? | ||
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floor exercise
Canada5847 Posts
I have to say the likelihood of you copypasting or just rewording wikipedia articles is pretty high. I would love to know what sort of qualifications you have. [Note: There’s a very important reason why it’s not precisely $200—the time value of money. Think about it this way, would you rather have $100 now or $100 in a year from now? If you said it doesn’t matter, then you’re forgetting that you could potentially put your $100 now in a savings account, in an index fund, in a treasury bond, or any number of other investments which would earn you a risk-free amount of interest. Generally the long-term Treasury bond is considered a risk-free rate, and that earns about 10% a year, meaning that $100 now is worth at least $110 in a year from now. Conversely, $100 a year from now, discounted by the 10% interest rate would give it a present value of only about $91. (PV = FV/(1+r)^n; where r = interest rate and n = number of years) | ||
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teh leet newb
United States1999 Posts
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Leath
Canada1724 Posts
Amazing. You are so patient. =) | ||
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psion0011
Canada720 Posts
On June 07 2009 04:34 kewlsunman wrote: What you say is true, and there certainly are some great hedge funds out there that consistently outperform the market. However, I do have a few rebuttals: 1) There aren't many multimillionaires on TL.net :D Wrong. I wish you'd do more research before making these kind statements. | ||
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CharlieMurphy
United States22895 Posts
![[image loading]](http://upload.wikimedia.org/wikipedia/en/thumb/5/57/Theintelligentinvestor.jpg/395px-Theintelligentinvestor.jpg) | ||
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deathgod6
United States5064 Posts
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RHCPgergo
Hungary345 Posts
On June 07 2009 05:43 psion0011 wrote: Wrong. I wish you'd do more research before making these kind statements. Maybe there are some, but there certainly aren't many. Thanks for the guide man, I'm definitely reading it. | ||
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caelym
United States6421 Posts
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ilj.psa
Peru3081 Posts
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floor exercise
Canada5847 Posts
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CalvinStorm
Canada78 Posts
Thank you! | ||
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