patrick.net

http://www.marketwatch.com/story/hedge-fund-buyers-are-getting-soaked-2017-03-29

Of particular interest:

John Paulson is getting some comeuppance

John Paulson, whose bet against subprime mortgage debt has been called the greatest trade ever, may have suffered the worst record ever since then. Over the past five years, assets under his management have declined by $26 billion, as his funds lost more than two-thirds of their value.

One of Trump's heroes has been suffering

A nearly $6-billion hedge fund overseen by Carl Icahn, an adviser to President Donald Trump, who often praises Icahn’s business acumen, suffered its second consecutive double-digit annual loss in 2016, Barron’s reported.

Better throw that fucker a bone Donny.

In his latest annual letter to shareholders of Berkshire Hathaway, Warren Buffett threw salt in the hedgies’ wounds. Gloating over a $500,000 bet he made a decade ago, the Oracle of Omaha reported that a low-cost Vanguard S&P 500 index fund gained 7.1% annually over the last nine years, trouncing five funds-of-hedge-funds selected by Protégé Partners, which returned 2.2% annualized. The results for the hedge-fund investors were dismal — really dismal, Buffett observed.

Why do people pay these asshole snake oil salesmen so much money to return such shit sandwich returns?

#investing