Simon Lack’s first book, “The Hedge Fund Mirage: The Illusion of Big Money and Why It’s Too Good to Be True,” chronicles the history of the hedge fund, highlighting many subtle and not-so-subtle ways that risks and returns are biased in favor of the fund manager.
He shows that, while it is certainly true that hedge funds have produced some of the greatest fortunes in recent years, the shocking reality is that while hedge funds have proven to be great generators of wealth for those who manage them, investors themselves have rarely reaped the benefits.
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