
The Rewind: It Is What It Is
The Memo by Howard Marks
Investing in Alternative Investments and Hedge Funds
Investors in these funds feel they'll be happy if they can earn net returns in the very low double digits. I'm not saying alternative investments and hedge funds won't provide the returns clients need, or the people shouldn't invest in them. In april 19 98, i observed that some good performing managers might choose for themselves a bigger portion of their funds superior urns. This is natural and happens in all businesses where the product is in strong demand. But that doesn't mean buyers should ignore it when it occurs.
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