Small hedge funds do better than big ones… big hedge funds did better when they were small… therefore the industry did better when it was small… That third step in the logic is something that investors don’t spend a lot of time thinking about because there’s nobody around to point that out to them!
Simon Lack — Small hedge funds do better than big ones… big hedge funds
Small hedge funds do better than big ones… big hedge funds did better when they were small… therefore the industry did better when it was small… That third step in the logic is something that investors don’t spend a lot…