Fees

“The dirty little secret of the hedge fund business is that it’s the two, not the 20, that really matters."

The wealthy love exclusivity.  That's why they love hedge funds.  Like a country club, only the wealthy can get in.

This is a MUST read for all investors who use mutual funds for their investments.  While the value of good investment management has significant value, there has been excessive fees in many funds for a long, long time.