stopsareforwimps wrote:miroslav_krajcir wrote:Ok, i ll drop them an email and i ll be back with the answer. AFJ you are right if they are not charging fees on new highs this matters a lot.
Mirec.
Either way the 2+20 provisions make it hard for the punters to win.
Someone calculated that if Warren Buffet had charged the investors in BRK-A 2+20 they would have underperformed someone who indexed the S&P500.
Isnt that the reason for Warrens Bet (Bloomberg - made a friendly bet four years ago that funds that invest in hedge funds for their clients couldn’t beat the stock market over a decade. So far he’s winning.
The wager that began on Jan. 1, 2008, pits the Omaha, Nebraska, billionaire against Protégé Partners LLC, a New York fund of hedge funds co-founded by Ted Seides and Jeffrey Tarrant. Protégé built an index of five funds that invest in hedge funds to compete against a Vanguard mutual fund that tracks the Standard & Poor’s 500 Index. The winner’s charity of choice gets $1 million when the bet ends on Dec. 31, 2017.)
and AFJ - I do know of a fund that charged daily for profit share, with a HWM that was reset (ie; it did not have one) yearly. Thankfully they have been banned by the FSA and SEC, and yet still operate an offshore fund.
They also kept any interest on cash balances as it was a futures account....so nothing should surprise.