if this system worked as alleged, why are the hedge fund managers billionaires and the janitors and firefighters hoping for a roof? just wonderinghttps://twitter.com/Reganonymous/status/1355286297351507979 …
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Nothing is being alleged about how the system works, other than the fact that there is a lot of pension fund money in hedge funds. It’s a good deal for HF managers. May or may not be a good deal for pensioners. But big HF drawdowns are bad for HF managers *and* pensioners.
Like, we can definitely have a conversation about whether pension funds should invest in hedge funds! That is a good and interesting conversation! But in the world we live in, they do invest, and when HFs lose money it is bad for pensioners too.
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no no ur right...but isnt the rest of the argument technically that they should be well diversified, the hf sleeve only a sleeve, and this shouldn't materially affect yada yada
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I think the primary issue is lots of people are incorrectly equating the size of a hedge fund to the net worth of the PM, and forgetting that those assets do belong to regular folk... albeit, indirectly
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Yes see tweet 2 from me
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ur feeding the legend! read the sign!
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I dont think anyone, most especially hedge funds they make profits at the expense of other hedge funds daily, is thinking about how that negatively affects pensioners.
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