Mon, Jul 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

AIMA publishes comprehensive rebuttal of Hedge Fund Mirage book

Monday, August 06, 2012

Beverly Chandler, Opalesque London: AIMA has published a 'comprehensive rebuttal’ of Simon Lack’s book, The Hedge Fund Mirage: The Illusion of Big Money and Why It’s Too Good to be True. AIMA’s paper, "Methodological, mathematical and factual errors in 'The Hedge Fund Mirage’ was written in conjunction with AIMA’s Research Committee, which features leading academics and analysts.

AIMA CEO Andrew Baker said: "Many of us in the industry looked at the arguments in the book with initial interest, and then growing scepticism. Many of the most sensational claims appeared not to be backed up by any figures. Where there were figures, the methodology was flawed. We noticed that no-one praising the book appeared to have actually checked the numbers behind it. We began to wonder if 'The Hedge Fund Mirage’ was itself an illusion,"

Lack’s book, subtitled The dismal truth about hedge funds and how investors can get a greater share of the profits claimed that if all the money that's ever been invested in hedge funds had been in treasury bills, the results would have been twice as good.

For its part, AIMA pointed to the following errors in 'The Hedge Fund Mirage’:

  • The main claim in the book, that U.S. Treasury bills have outperformed h......................

    To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New