In his most recent article in Barron’s, Andrew Beer lays out the unsavory ways many funds have been marketed by wealth managers.
If you’ve been invested in hedge funds over the past decade, you probably feel cheated. And you should.
No, the problem isn’t that you were overcharged by hedge fund managers – they’re simply tried and true capitalists seeking to maximize profits. The bigger issue is that the cottage industry of advisors, consultants and private bankers who put you into hedge funds in the first place were supposed to watch your back…and didn’t.
The problem: Most people in this industry talk a great game about doing what’s in the best interest of clients. Yet conflicts of interests more often lead to the opposite.
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