Seeking Alpha

Amit Chokshi, CFA  

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  • Buffett Misses In Hedge Fund Fees Comment [View article]
    Buffett ran a partnership before BRK and got paid 25% after clearing the 6% hurdle rate. I admire him but find his annual letters to be much better for those with a passing interest in investing. Does your analysis implicity state that ou think investors are better off paying 2 and 20% for a beta neutral long/short hedge fund to reduce volatility? What if investors are in a 2 and 20% long/short fund where the short and long book are not integrated and both the short and long book go in the wrong direction? And how is a 2 and 20% long-only portfolio a ripoff? Most hedge funds are absolute return vehicles and running a matching short portfolio is not the only risk mitigation tool. How would you rate the long-term returns of Mohnish Pabrai, Tom Brown, Lampert, etc. who do not run short books?
    Apr 10, 2007. 09:51 AM | Likes Like |Link to Comment
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