"We were dead broke!"
Posted on 07/25/2016 1:55:20 PM PDT by boknows
The effect on Mezvinsky’s hedge fund has been gruesome. It raised $25 million for its investments, but had already lost about 40 percent of its value by early 2015. Rather than shuttering the fund then, Mezvinsky pressed ahead.
that was exactly my thinking. it would be infesting to see who got rich off the investments...you can bet they were friends of her husband...isn’t it great how the next generation of grifters learn there craft.
This kid has a bright future in politics. He could be president or speaker of the house for either party.
Amazingly difficult to lose all your investors’ money - all he had to do was buy no load total stock market index or put it in a wide variety of other pretty good vehicles. Was there any chicanery or theft involved???
"We were dead broke!"
The names of the marks are not important.
The names of the counterparties, who walked with all that cash? THAT would be very nice to know.
The names of the marks are not important.
The names of the counterparties, who walked with all that cash? THAT would be very nice to know.
There have been quite a few studies of hedge fund performance, and as an investment vehicle they are among the worst out there. Most fail spectacularly and consistently. A very few succeed spectacularly for a year or two, almost never longer, and then crash and burn. But the real killer are their fees and expenses. 2% annually whether you win or lose and then 20% of any profit is INSANE.
The tyranny of negative compound interest kicks in here. Every penny you hand over in fees (and taxes) is money that is not working for you, not just next year but every year for the rest of your investing life. So you lose the compound return on that money which snowballs every year. This is why almost nobody can beat a cheap index fund over time. You buy an S&P 500 or total stock market index fund that charges .05% annually, reinvest the dividends (current just shy of 2%) and good year or bad, and you beat the market EVERY SINGLE YEAR. And that compounds to the upside.
Hedge funds are mathematically guaranteed losers over any ten year period. They just can’t compete because NOBODY can beat the market consistently over a ten year period to compensate for 22% fees and expenses and the lost compounded returns from all that money. Nobody. Period.
Anyone says he is doing that is a liar or a crook, or both.
The odds of your fund manager beating an Index Fund over ten years? .04%. But that’s normal mutual funds that rarely charge much more than 1.5%. With a hedge fund manager, charging the customary 22%... Your odds are better playing the lottery.
Chelsea Madoff??
close cover before striking
Not many people would remember that one any more...............
Those grandkids don’t stand a chance.
Two sides of every trade....who was the counter party, the crime family foundation??
ping
Chelsea Made Off with the money she didn’t care about.
I hope they lose their condo
90% is very impressive!! I do trust that he received a large performance bonus!!
Oh, that's all right. I'm certain she just married him out of love, anyway.
Ow. It actually hurts, trying to say stuff like that with a perfectly straight face. ;)
When did Webb Hubble meet with Loretta Lynch?
Looks like Ivanka Trump married better than Chelsea Clinton.
Maybe Mezvinsky should just change his surname to Ponzi and be done with it. It might be the first honest thing he’s done in many years, at least since he became part of the Clinton Crime Family.
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