The Financial Times analyzed the stock picks of the presenters at this week's Ira Sohn Investment conference in NYC and found that, on average, following a hedge fund manager was a much worse bet than buying passive index funds (though a couple hedgies did do pretty well last year, they were dragged down by the spectacularly wrong advice from the majority):
But a Financial Times analysis of last year's tips shows decidedly mixed results. An investor who followed every top idea from the 12 speakers last year would have made 19 per cent, less than the 22 per cent gain available from a passive index fund tracking the US stock market.
Many of the ideas have proved woefully miscued, including some from the most high-profile managers who will return to the stage on Wednesday: David Einhorn of Greenlight Capital and Bill Ackman of Pershing Square.
Tips From Wall Street Hedge Fund Gurus Fail to Reward Faithful
BMG Rights Management and Round Hill Music. has been trying to enlist Cox Cable as an accomplice in a copyright trolling scheme, demanding that the company pass on copyright infringement notices that accuse users of downloading music and order them to pay large sums of music or face punishing lawsuits.
In 2014, Britain strode boldly into the late 20th century, finally legalising “private copying” — ripping CDs, taping LPs, recording TV shows, backing up your ebooks and games — but now it’s thought better of the move.
Martin Shkreli, the hedge-fund douche-bro who hiked the price of an off-patent drug used by AIDS and cancer patients from $13.50 to $750, then promised to lower the prices after becoming the Most Hated Man on the Internet did no such thing, because he is a liar.
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