Tuesday, January 13, 2009

Hedge Funds and Funds of Funds: Biting the Hand That Feeds You

Seeking Alpha covered the "juicy" quote about the Fund of Funds bunch from a hedge fund manager.

"Funds of funds are, in general, a highly overrated bunch, many of them attracting people who can't manage money themselves," says Jonathan Trugman, who runs a small New York stockpicking hedge fund, Pendulum Capital Management, that made money in 2008. "You have to be selective about which funds of funds you do business with, because much of it is allocated more by marketers and back-slappers than by true analysts."

Hm...What do you think? The writer of this particular article seems that its part of the human condition to resent those that we are dependent upon. Within this closed world, should we be constantly worried over those who closely align with us yet may be the enemy?

Your thoughts are appreciated.

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