Chasing Fund Returns is a Very, Very Bad Idea20160509183323
Chasing Fund Returns is a Very, Very Bad Idea
How does a fund earn over $500 million in management fees yet lose over $1 billion for investors since inception?No, sorry. It’s not a hedge fund. It’s a mutual fund: the Marketfield Fund, arguably the poster child for returns chasing in the liquid alts space.Here’s the background. The Marketfiel...