Dangerous to relay on "averages" when the AUM and returns in the sample are not really normal.
Yes activist HF are good at stock picking but I'd comfortably bet that the top quantile is better at other things too. (Picking management, winning boardroom seats and battles, discounting Product lines....)
Dangerous to relay on "averages" when the AUM and returns in the sample are not really normal.
Yes activist HF are good at stock picking but I'd comfortably bet that the top quantile is better at other things too. (Picking management, winning boardroom seats and battles, discounting Product lines....)