A comprehensive rebuttal of the Hedge Fund Mirage?

Tim Farrelly, farrelly's | 29 January 2013

Simon Lack's book, “The Hedge Fund Mirage”, claims (amongst other things) that hedge fund investors would have been much better off in US Treasury Bills over the past decade. More devastatingly, in the period 1998 to 2010, more than 90% of all the sums earned by hedge funds ended up in the pockets of the managers rather than investors.

The Alternative Investment Management Association (AIMA) has hit back with a “compre...