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They didn't just outperform "normal" congress critters.. they also outperformed nearly every hedge fund on the planet. But they (meaning, of course, just one pe
by hobobaggins 10mo ago
They didn't just outperform "normal" congress critters.. they also outperformed nearly every hedge fund on the planet. But they (meaning, of course, just one person and their spouse) are obviously geniuses.
- seanmcdirmid 10mo agoHedge funds suck though. They don’t invest in FAANG, they do risky stuff that doesn’t pay off, you are still comparing incomparable things. I’m obviously a genius because 90% of my stock is in tech, most of us on HN are geniuses in your opinion?
- cap11235 10mo agoWhat do you think hedge funds do?
- seanmcdirmid 10mo agoThey use crazy investment strategies that allow them to capture high returns in adverse general market conditions, but they rather under perform the general market in normal and booming conditions. “Hedge” is actually in their name for a reason. Rich people use hedge funds for…hedging.
- mvkel 10mo agoDownside protection. Hedging. Giving you gains at the lowest beta possible.
- stouset 10mo agoHedge funds’ goals are often not to maximize profit, but to provide returns uncorrelated with the rest of some benchmark market. This is useful for the wealthy as it means you can better survive market crashes.
- Guillaume86 10mo agoThey also outperformed themselves before being in a leader position...