The Hedge Fund Long Short Box

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The last 10 years that interest rate was zero cost is negative most of the time, right? So rates go back to pick a number more long term normal 5%. You're going to get paid. Call it for no one's talking about that in the long short box. If you're 60 gross short and you're getting a rebate of four percent, that's two and a half percent. That's material. But I'm not sure it's material enough if you're not adding enough alpha,. especially if you're charging traditional hedge fund fees on top of it.

Last year, four of my oldest friends in the business and I got together to banter about a range of investment topics. Now admittedly, I pretty much had to pull their teeth to make it happen that first time, but after having so much fun with it, our old gang didn’t hesitate to do it again. Our dinner crew - Meredith Jenkins from Trinity Wall Street, Casey Whalen from Truvvo Partners, Brett Barth from BBR Partners, Jon Harris from Alternative Investment Management and I - gathered and riffed on long/short hedge funds, private markets, Africa and other empty rooms, potential canaries in the coal mine, continuation funds, co-investments, our favorite investment types, and blind spots. At the end, we had a chance to pay a tribute to Jon’s father, the legendary Ira Harris, who graduated from his amazing life here on Earth earlier in the year.

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