Friday, January 23, 2009
I couldn't help noticing a contributed post to Albourne Partners's Village which was [somewhat imprecisely] entitled "Majority of Hedge Funds and FOHFs Lost Money in 2008". Being pedantic, and a stickler for accurate semantics, the headline should have read: Majority of Investors in Hedge Fund and FOHFs Lost Money On The Investments Last Year". And this is part of the industry's asymmetric problem, no? Few managers and even fewer FOHFs "lost" money in their management companies (excepting those perhaps with large incentive-fee deferrals invested in their Funds , though with post-redemption and shrinkage, this too will change in 2009.