Over the course of his career he has listened attentively to many pitches by hedge fund managers, and his notes enabled him to compile in 2007 his “Top Ten Quotations from Hedge Fund Managers” which appeared in print this year*. Enjoy.
10. “If we don‘t charge 2 and 20, no one will take us seriously.”
9. “We are 75% cash because we cannot find sufficient investments.”
8. “We charge 3 and 30 because that is the only way we can keep our assets under several billion.”
7. “We don’t invest in crowded shorts.”
6. “I haven’t shorted before, but I do have my CFA.”
5. “Managed Futures are a better investment than Hedge Funds because Hedge Funds are a zero sum game.”
4. “What’s a Master Trust?”
3. “Your Head of Equity doesn’t understand our Hedge Fund strategy.”
2. “Basically, I look at the trading screens all day and go with my gut.”
1. “He will be with you in a minute sir, he’s still meeting with his architect.”
*Top Hedge Fund Investors: Stories, Strategies, and Advice (Wiley Finance)