And The Rich Keep Getting Richer?

[REWahoo]

Floridians Lose Millions in Hedge Fund

MIAMI - Dozens of wealthy investors were scammed out of $160 million by three self-proclaimed hedge fund operators who set up flashy offices in Palm Beach County, took their money and ran, federal investigators said.

http://news.yahoo.com/s/ap/20050813/..._fund_collapse

REW

[wabmester]

I think standard hedge fund fees are around 2% of assets + 20% of any profits, so I'm having trouble understanding what makes these guys any more crooked than other hedge fund managers.

[justin]

Quote:

Originally Posted by wabmester I think standard hedge fund fees are around 2% of assets + 20% of any profits, so I'm having trouble understanding what makes these guys any more crooked than other hedge fund managers.

simple. These guys took 98% more assets and 80% more profits.

[Nords]

Quote:

Originally Posted by justin simple.* These guys took 98% more assets and 80% more profits.*

Yeah, but if they'd had a long-term approach they could have taken it ALL, and legally to boot!