Unfounded Expectations, Irrational Policies, Politicians

Getting Over Hedge Funds - Bloomberg View:  "... If anyone has an explanation for how these unfounded expectations came about, or why they persist, please let me know. I am well aware that politicians have embraced these false numbers, as it reduces the amount of contributions they need to make each year to public-pension funds. But it also kicks the can down the road, creating an even bigger hole in future budgets. At this stage, I shouldn't be surprised at irrational policies from innumerate politicians -- but I am. Regardless, this is a trend that bears watching. The top funds in each category of alternative investment -- venture capital, private equity and hedge funds -- likely have little to fear. The remaining 90 percent of the players in this space should pay close attention. Some changes might be coming." (read more at link above)

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