Krypto had remarkably good timing Friday with her stock purchases. Can a dog really outperform all those overpaid hedge fund managers?
I guess John Paulson is no longer the great genius - his funds are down big, the worst 47% for the year. To his credit, I read that a good bit of the money is his own or his employees. How well has he done? Bloomberg says, "clients who came in at the beginning of 2008 have made 4.3 percent, according to Bloomberg calculations". That sucks and is surely not worth a 2% annual fee and 20% of the ups.
All these beefers do is take big risks with OPM - Other People's Money. Some win, some lose. The winners take a big fee; the losers close down and start a new fund. On average, it's a scam. Krypto works for dog biscuits and outperforms them overall.
Word of the Day
"Pule" - verb, intransitive [$10] literary. Often used in its participial form, puling.
Pule means to cry querulously or weakly, whine, whimper.
Sentence: The dumb rich should stop their puling ways and simply make long term investments the Krypto way.