By James Kwak
From a Wall Street Journal article about The Children’s Investment Fund:
“[The fund] lost 43% in 2008, among the worst losses by a hedge-fund that year.”
“Both investors and employees defected during the crisis, with top talent leaving to start hedge funds of their own.”
“But with a 30% return in 2012 and a 14% gain this year, TCI has crossed its high-water mark.”
Makes you think.