The Hedge Fund Mirage

The Wall Street Journal reviews Simon Lack’s 2012 book, “The Hedge Fund Mirage.” In this book, Lack notes that “If all the money that’s ever been invested in hedge funds had been put in Treasury bills instead, the results would have been twice as good.” While hedge funds have proved to be serious moneymakers for those who manage them, investors themselves rarely reap the benefits. The book is a favorite at Atlas.