The Rewind: Lines in the Sand
The Memo by Howard Marks
00:00
Using Subscription Lines in a Fund
The use of subscription lines sheds considerable doubt on the significance of i r r. One fund with a higher i r r didn't necessarily out prform another, he says. Even low returns on sments could give rise to ultra high i r rs at the fund level," writes John Sutter.
Transcript
Play full episode
