Comment by hobobaggins
17 hours ago
They didn't just outperform "normal" congress critters.. they also outperformed nearly every hedge fund on the planet. But they (meaning, of course, just one person and their spouse) are obviously geniuses.
17 hours ago
They didn't just outperform "normal" congress critters.. they also outperformed nearly every hedge fund on the planet. But they (meaning, of course, just one person and their spouse) are obviously geniuses.
They also outperformed themselves before being in a leader position...
Hedge funds’ goals are often not to maximize profit, but to provide returns uncorrelated with the rest of some benchmark market. This is useful for the wealthy as it means you can better survive market crashes.
Hedge funds suck though. They don’t invest in FAANG, they do risky stuff that doesn’t pay off, you are still comparing incomparable things.
I’m obviously a genius because 90% of my stock is in tech, most of us on HN are geniuses in your opinion?
What do you think hedge funds do?
They use crazy investment strategies that allow them to capture high returns in adverse general market conditions, but they rather under perform the general market in normal and booming conditions. “Hedge” is actually in their name for a reason. Rich people use hedge funds for…hedging.
Downside protection. Hedging. Giving you gains at the lowest beta possible.